Archive for the ‘waldemarjezler’ Category

Trump, national security and steel making

April 25, 2017

The Constitution of 1988 proposes the construction of a civilized society. Its supreme values are: 1) the broadest individual freedom; 2) the systematic pursuit of equality of opportunities; and 3) constructing an efficient coordination of the economic activity of citizens compatible with them. The three conditions are not easily accommodated. The long history of mankind suggests that so far the only available form of coordination capable of hosting freedom and equality is through “markets.” For its good operation they demand the private property, which reduces the equality and puts at risk the democratic legitimacy. (more…)


Government prepares National Plan for Internet of Things

February 23, 2017

Gilberto Kassab, minister of Science, Technology, Innovation and Communications, says the so-called “internet of things” could generate R$200 billion for the Brazilian economy by 2025 and revealed the government is working on a plan to encourage the industry. On Thursday, while heading the Brazilian delegation to Barcelona’s Mobile World Congress, the minister said the plan might include adjustments in industrial policy, telecom regulation, project and innovation financing, and labor training. Officials even study directing tax breaks to suppliers and manufacturers who join the production chain, but any changes would require reforming the Law of Informatics.

A GOP Regulatory Game Changer

January 27, 2017

Legal experts say that Congress can overrule Obama regulations going back to 2009.

bn-rv070_pw0127_jv_20170126181434Todd Gaziano on Wednesday stepped into a meeting of free-market attorneys, think tankers and Republican congressional staff to unveil a big idea. By the time he stepped out, he had reset Washington’s regulatory battle lines. (more…)

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.

Brasília hardens stance with states over repatriation funds

November 28, 2016

The government rejects sharing the money obtained from fines on undeclared assets abroad with the states unless the states commit to a fiscal adjustment effort, a high-ranking source told Valor. Brasília had agreed to channel R$5 billion from the R$45 billion collected to the states in exchange for a national pact to improve the health of public accounts. Officials argue that current legislation doesn’t force the federal government to share the fines with states and without concessions from them it is even willing to let the Federal Supreme Court resolve the issue.

Federal Revenue to publish rules on repatriation of funds this month

March 7, 2016

The normative instruction draft of the Secretariat of Federal Revenue that will regulate Law No. 13,254, establishing the conditions for the legalization of funds sent illegally abroad, has received 284 suggestions for changes or requests for information during the public consultation period ended on Thursday. The suggestions can be divided into three groups: instruments considered illegal for violating the Law 13,254; rules that would be inapplicable due to operational incompatibility; and articles that can lead taxpayers to differing interpretations, causing legal uncertainty. The suggestions include one from teacher Eduardo Salusse, of FGV\’s Law School, in São Paulo. He advocated that the payment of tax and penalty could be done with funds from abroad. Today, when capital enters the country, first the taxpayer must pay the tax and the fine, and then report it to the Federal Revenue and the Central Bank and, finally, to the financial institution in order to convert the currency and release the money in Brazil. According to the Federal Revenue, the normative instruction will be published this month.

Rousseff bets on mosquito hunt to regain popularity

February 11, 2016
Dilma Rousseff

Dilma Rousseff

President Dilma Rousseff bets on the fight against the Zika virus and the microcephaly epidemic as a vaccine to contain the progress of Operation Car Wash investigations on former president Luiz Inácio Lula da Silva. In the opinion of Rousseff aides, the affected image of her predecessor hits the president directly and makes her more vulnerable to the impeachment that although asleep, it has not been buried. She will command the mega-operation scheduled for next Saturday, when 220,000 military officials will take the streets to battle the Aedes aegypti mosquito. (more…)

Repatriation Law raises concerns, but encourages asset managers

January 18, 2016
Fernandes, Figueiredo, Françoso 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…)

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.

Eduardo Cunha maneuvers to avoid explusion from Chamber of Deputies

November 17, 2015

The presentation of a brief on admissibility of representation against Chamber of Deputies speaker Eduardo Cunha (PMDB Rio de Janeiro) before his defense could open a procedural front that could hamper the expulsion of the congressmen by the chamber’s ethics committee. The allegation of a denial of the right to defense could place the matter before the chamber’s judiciary committee (CCJ), a body where Mr. Cunha is represented by a majority and which is chaired by one of his closest allies, Arthur Lira (PP-AL), who has been accused in Operation Car Wash investigations as an intermediator of bribery. The possibility of this legal maneuver has already been mentioned by Mr. Cunha’s attorney, Marcelo Nobre. “The role of the CCJ is to re-establish due process of law,” said Mr. Nobre. Mr. Cunha has been under investigation for alleged receipt of up to R$5 million in bribes. 11/17/15

Waldemar Jezler