Portuguese

Adler Martins – lawyers

Archive

31/05/2019

Swiss-brazilian tax information exchange agreement enters into force in Brazil

+

Today, with the publication of Federal Decree n. 9.814 from 2019 (link here), the agreement between Switzerland and Brazil regarding the exchange of tax information became enforceable in Brazil. This means that it can now be used by the Brazilian Federal Revenue Service and other agencies as if it were a local Act. The agreement was signed in 2015 but, in practical terms, this decree is the starting point for its application and full validity in Brazil. Please notice that this is not the double tax treaty signed in 2018, which is still waiting for approval of the Brazilian… Leia mais

 
30/05/2019

Non-residents individuals do not pay income tax on gains from Brazilian real estate funds

+

As long as the real estate fund abides by a few conditions, such as having at least 50 investors, gains arising from it and paid to individual investors who reside abroad are exempt from income tax in Brazil. To be eligible for this tax break, the non-resident investor must not own more than 10% of the quotas in the fund. However, the benefit applies even when the non-resident investor is based on a low tax… Leia mais

 
30/05/2019

How to set up a Bitcoin arbitrage business in Brazil

+

Brazil has been a good market for Bitcon/cryptocurrency arbitrage. Although the last months have been rough, prices spikes always occur and specialists have pointed out to me that, if one can keep costs down, it is possible to set up a stable and recurring arbitration business. The restrictions faced by entrepreneurs are more due to bureaucracy and business culture than to legal regulation. Brazilian law is relatively welcoming of bitcoins and other cryptocoins. In this article I will explain both the theory and the practice behind it. Note: I`m using Bitcons as the general term for cryptocurrencies.   LEGAL FRAMEWORK OF BITCON ARBITRATION IN BRAZIL   Bitcoins did not receive a specific legal classification in Brazil, as of yet. So far, they are subsumed under the general class of “intangible goods”, but without any special designation such as software, services, intellectual property, etc. This turns out to be very consequential. The broad… Leia mais

 
28/05/2019

Publication of Guidance on Customer Tax Evasion

+

The Wolfsberg Group – May 28, 2019 The Wolfsberg Group is pleased to publish its Guidance on Customer Tax Evasion, which is designed to provide Financial Institutions (FIs) with an industry perspective on how to develop, implement and maintain an effective anti-tax evasion compliance programme. The overall objective of the Guidance is to promote a culture of ethical business practices and compliance with legal and regulatory requirements related to the prevention of tax evasion, including the facilitation thereof, and to help FIs prevent the use of their operations for criminal purposes. It is the Group’s view that an effective compliance programme should leverage existing financial crime compliance, conduct and tax (including tax transparency regimes) procedures and controls, in order to address the risks of customer tax evasion, and the facilitation thereof. The Group acknowledges that while tax evasion facilitation risk is distinct from the underlying predicate offence… Leia mais

 
22/05/2019

Can foreign individuals own mining companies in Brazil?

+

Below, an interesting exchange with a reader (all personal details have been deleted). Dear Professor Adler Martins I like your blog very much, for I love International Law, negotiation and the art of drafting contracts. I would like you to help me with a doubt. May a foreign investor acquire a concession for mining exploration (gold) in Brazil? Is it necessary that Brazilian individuals also have equity in the company? What are the legal procedures and ways to accomplish that? Thanks in advance Abraço   Dear Reader, Thank you for following the blog. Regarding your question: The Brazilian Constitution, in its Article 176, says that the exploration and exploitation of mining deposits can only be pursued by a Brazilian individual or by a Company established in Brazil. Thus, if a foreigner wishes to acquire any kind of mineral rights in Brazil, it shall first set up a company in Brazil. This company may either have 100% foreign capital or be a… Leia mais

 
16/05/2019

Don’t leave bank accounts behind in Brazil, unless you set them straight

+

I have been noticing a surge of tax audits regarding clients who lived in Brazil for a while and then went back home but kept financial investments in Brazil. This is how it happens: let’s say and American executive, or an Italian entrepreneur, works in Brazil for 03 years. During this time, he will notice that Brazilian banks pay very attractive interests for even the most basic investment. Naturally, he will get a taste for it. Everybody loves developing countries’ interest rates.   After leaving Brazil, the ideal procedure would be to  file a tax statement declaring definitive tax leave;  liquidate all investments;  open a non-resident bank account;  invest again, now through the non-resident bank account. Most people will file the tax statement declaring leave and will do none of the rest. It works for a while. The banks will turn a blind eye and maintain the accounts and investments. However, this is technically wrong, because… Leia mais

 

Histórico

  • janeiro 2020
  • dezembro 2019
  • novembro 2019
  • outubro 2019
  • setembro 2019
  • agosto 2019
  • junho 2019
  • maio 2019
    • Compartilhe no WhatsApp
    NEWSLETTER

    Sign up to receive

    Developer In Company

     

    Fale conosco
    Fale conosco