Archive for the ‘STF’ Category

Federal government may lose R$500bn in cases linked to tax issues

January 2, 2017

Nine tax issues discussed in lawsuits in both the Federal Supreme Court (STF) and the Superior Court of Justice could together amount to R$500 billion in losses for the federal government if it is defeated in all of them. The case with the greatest impact on public coffers — estimated at R$250 billion — will define if sales tax ICMS is included in the calculation basis of social contributions PIS and Cofins. The case has not yet begun to be tried in the STF. Other pending issues are the definition of an input to obtain PIS and Cofins credits, valued at R$50 billion, and the possibility of collecting PIS and Cofins on revenues from financial institutions, which may reach almost R$136 billion. There is also expectation that the courts will review the right of a credit related to the Tax on Industrialized Products (IPI) in the acquisition of exempt inputs from the Manaus Free Trade Zone.

Rousseff wins first battle against impeachment

December 17, 2015

The Supreme Federal Court (STF) ended Thursday — with a positive outcome for the government — the review on the rules for the opening of potential impeachment proceedings against President Dilma Rousseff.

As one of the main points of the ruling, the majority of ministers invalidated, for two reasons, the special committee of the Chamber of Deputies formed to analyze the impeachment request: they did not accept the alternative group created and approved by the opposition, with the support of government dissidents, and also because the election of its members was made in a closed vote. The members of a new committee must be appointed by party leaders and chosen in an open vote. (more…)

Brazilian Supreme Court freezes assets of Chamber Speaker

October 23, 2015

The Federal Supreme Court (STF) ordered the remittance to Brazil of 2.5 million francs owned by Chamber of Deputies speaker Eduardo Cunha in a Swiss account. Minister Teori Zavascki ordered the funds to be deposited in court, accepting a request from the Attorney-General of the Republic. Mr. Cunha, his wife and daughter are under investigation after allegations that he received bribes related to Petrobras contracts. The STF also denied the speaker’s request for trial secrecy. The Attorney-General is considering measures to request the removal of the controversial speaker, elected at the beginning of the year and who has repeatedly challenged the government’s plans in Congress 10/23/15