Articles
18Sep 2007
In a surprising unanimous decision, Brazil’s Supreme Court on September 17 granted an injunction to prevent the Federal Revenue Department from assessing a taxpayer for excluding its export income when calculating the 9 percent Social Contribution on Net Income (CSL)....
24Jul 2007
Brazil’s President Luiz Inácio Lula da Silva has signed Law 11,508/07, which changes the tax regime applicable to the country’s special export processing zones (ZPEs) — but first he vetoed 19 articles, upsetting supporters of the original law project and...
23Jul 2007
Brazil’s Council for Economic and Social Development (Conselho de Desenvolvimento Econômico e Social, or CDES)(1) on July 17 submitted a proposal to President Luiz Inácio Lula da Silva recommending that the government legally limit the country’s maximum tax...
23Jul 2007
Brazil’s Federal Revenue Department (FRD) has stated that corporate reorganizations and successions are subject to the 0.38 percent bank transactions tax (CPMF). That official position was published July 19 in the official gazette as Interpretative Declaratory Act (Ato...
19Jul 2007
A controversial law project currently under review by Brazil’s House of Representatives would create an extra tax on “extraordinarily high” profits realized by banks and other financial...
16Jul 2007
Declaratory Interpretative Act (ADI) 12/07, which will affect hundreds of companies that have enjoyed tax breaks from Brazil’s domestic drawback regimes, was published in the official gazette on July 11. ADI 12/07 provides that Brazil’s tax-beneficial domestic...
12Jul 2007
Brazil’s Supreme Court has ruled that taxpayers are not legally entitled to take federal excise tax (IPI) credits on purchases of materials subject to IPI exemption, zero rating, or...
19Jun 2007
Brazilian Minister of Finance Guido Mantega and Minister of Development, Industry, and Foreign Trade Miguel Jorge on June 12 announced an economic and tax package designed to ensure the competitiveness of certain economic sectors. The announcement was prompted by the...