Articles
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...
12Mar 2007
Brazil’s Federal Revenue Department has issued a normative instruction that regulates exporters’ ability to keep up to 30 percent of their export income in bank accounts held outside Brazil. Normative Instruction 726/07 was published in the official gazette on...