Archive for January, 2016

Repatriation Law raises concerns, but encourages asset managers

January 18, 2016
Fernandes, Figueiredo, Fran├žoso Petros Advogados

Edison Fernandes

The so-called Repatriation Law, which President Dilma Rousseff signed into law Thursday, was received with some concern by law firms and with enthusiasm by wealth-advisory services of financial-service providers. The new act, still dependent on regulation by the Secretariat of Federal Revenue, allows taxpayers to regularize unreported funds they hold abroad by paying a 15% tax and a 15% fine. (more…)

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Brazil adopts single standard for fiscal risk

January 14, 2016

The federal government started to use new parameters, similar to private-sector ones, to classify legal liabilities as “fiscal risks” that could cause unlikely, possible and probable losses – the Treasury has to set aside reserves to cover the last ones. Officials say the change aims to create transparent criteria for lawsuits against the federal government and its bodies. Before, every sector classified the risk according to its own interpretation. Last year’s budget had 49 issues that could result in R$838.1 billion in liabilities, while this year the number fell to 12 with R$662.9 billion in potential liabilities.

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