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Changes ahead for deemed interest on shareholders' invested capital in Brazil

Fernanda Sampaio, Marina Di Nardo Silva and Milton Schivitaro of Finocchio & Ustra look at the possibility for retrospective payment.

Brazil , Brazilian , Nardo-silva , Fernanda-sampaio , Milton-schivitaro , Finocchio-ustra , Euromoney-institutional-investor , Brazilian-federal-administrative-tax-court , Capital-proprio , Tax-reform , Federal-senate , Superior-chamber

Brazilian income tax reform proposal advances

Fernanda Sampaio, Bruno Santo and Milton Schivitaro of Finocchio & Ustra bring the actualisations from Brazil’s potential income tax reform after the approval by the Chamber of Deputies

Brazil , Brazilian , Deputy-celso-sabino , Bruno-santo , Fernanda-sampaio , Milton-schivitaro , Finocchio-ustra , Euromoney-institutional-investor , Brazilian-securities-commission , Simples-nacional , Lucro-presumido , Privacy-policy

Corporate income tax changes ahead for Brazil

Corporate income tax changes ahead for Brazil
internationaltaxreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationaltaxreview.com Daily Mail and Mail on Sunday newspapers.

Brazil , Brazilian , Deputy-celso-sabino , Alice-oliveira , Bruno-santo , Pedro-buffolo , Pessoa-jur , Finocchio-ustra , Euromoney-institutional-investor , Brazilian-securities-commission , Imposto-de-renda , Privacy-policy

Corporate income tax consequences of state VAT (ICMS) exclusion from PIS/COFINS in Brazil

Corporate income tax consequences of state VAT (ICMS) exclusion from PIS/COFINS in Brazil
internationaltaxreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationaltaxreview.com Daily Mail and Mail on Sunday newspapers.

Brazil , Brazilian , Alice-oliveira , Bruno-santo , Fernanda-sampaio , Finocchio-ustra , Brazilian-supreme-court , Euromoney-institutional-investor , National-treasury , Receita-federal , Attorney-general , Federal-court

Brazilian Supreme Court ruling on the exclusion of ICMS from PIS/COFIN

The ruling brings more legal certainty for taxpayers
On May 13 2021, the Brazilian Supreme Court (STF) concluded the trial of one of the largest tax discussions in Brazil relating to the exclusion of ICMS (state sales tax) in the PIS/COFINS (federal contribution on total revenue) tax base (as discussed in Challenges and complexities of the Brazilian tax system).
March 2017 ruling
After more than 20 years of intense judicial debate, on March 15 2017, the STF’s Justices started to analyse and decide on the issue and adopted a favourable understanding for taxpayers, recognising and ruling, at that time, that ICMS should be excluded from the PIS/COFINS (federal contribution levied on revenue) taxable basis, as it is not characterised as gross revenues.

Brazil , Brazilian , Justice-carmen , Cunha-ferreira , Leandro-lucon , Juliana-camargo-amaro , Finocchio-ustra , Supreme-court , Brazilian-supreme-court , Supreme-federal-court , Euromoney-institutional-investor , General-counsel

Tax aspects of Brazil's Judicial Reorganisation Law | International Tax Review

Important changes have been made to the Judicial Reorganisation Law
On March 18 2021 the Brazilian Congress analysed the vetoes made by President Jair Bolsonaro to the provisions of Law 14,122/2020, approved on December 24 2020, which made important changes to the Judicial Reorganisation Law (Law 11,011/05).
Taxes losses
In total, 12 of the 14 presidential vetoes were overruled by Congress, and two of them (Article 6-B and Article 50-A) are specifically relevant from a tax perspective.
The first refers to the possibility of fully using taxes losses, without the 30% limitation, over net income resulting from capital gains from the disposal of fixed assets or rights by the legal entity under judicial reorganisation. As an exception, this does not apply for capital gains resulting from transactions with related entities and with an individual who is a controlling shareholder, partner, owner, or administrator of the legal entity which is the debtor.

Brazil , Brazilian , Bruno-santo , Fernanda-sampaio , Finocchio-ustra , Jair-bolsonaro , Camila-somadossi , Euromoney-institutional-investor , Brazilian-congress , Contribution-for-the-social-integration-program , Judicial-reorganisation , President-jair-bolsonaro

Impact of corporate income taxation on government grants in Brazil

Impact of corporate income taxation on government grants in Brazil
internationaltaxreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationaltaxreview.com Daily Mail and Mail on Sunday newspapers.

Brazil , Brazilian , Bruno-santo , Leandro-lucon , Finocchio-ustra , Supreme-court , Euromoney-institutional-investor , Administrative-council-for-tax-appeals , Receita-federal , Administrative-council , Tax-appeals , Privacy-policy