IOF Credit – Revocation of the 0% rate

Decree No. 10,551 / 2020 was published today, revoking the reduction of the 0% IOF Credit rate, previously valid until December 31 (See Newsletter – IOF Credit – 0% – December 31th, 2020). Therefore, credit transactions contracted as of tomorrow (November 27), were again charged by IOF Credit according to the type of credit transaction […]

Senate Approves Bill of Law That Changes The Brazilian Bankruptcy Law (11.101/05)

At a vote held yesterday, the Senate approved the Bill of Law # 4.548/20, that changes several articles of the Law 11.101/05, that regulates the institutes of the Judicial Restructuring, the Extrajudicial Restructuring and the Bankrutpcy proceedings. The final text will follow for presidential sanction. Among the main changes brought by the Bill of Law […]

New NR-31 – Agribusiness

Ordinance No. 22,677/2020 of the Special Secretary of Welfare and Labor (former Ministry of Labor) was published on Thursday, October 27, 2020, approving the new wording of the Regulatory Norm No. 31 – Safety and Health at Work in Agriculture, Livestock, Forestry, Forest Exploration and Aquaculture (“NR-31”).   The changes in the NR-31 are part […]

Circular No. 43/2020, dated as of October 15th, 2020 – ANBIMA

New Certifications for Third Party Asset Managers On October 15th, 2020, ANBIMA released Circular No. 43/2020 (“Circular 43”), which provides for a new certification model for third party asset managers aiming to meet new demands imposed on these professionals due to the market evolution. The traditional ANBIMA Managers Certification – CGA is now divided into […]

IOF Credit – 0% – December 31st, 2020

In addition to Decrees 10.305/20 and 10.414/20 (Please refer to Newsletter- “Government extends deadline for the application of the 0% rate of the IOF-Credit”), Decree 10.504/20 was published, postponing to December 31 the term for the 0% rate of the IOF-Credit for the following hypotheses: credit transactions; extension, renewal, novation, composition, consolidation, debt confession and […]

Change the ISS payment location for specific activities

Supplementary Law 157/2016 changed the place of payment of the Tax on Services (“ISS”) for health plans, management of funds, consortia, credit and debit cards, and leasing. In relation to these services, the ISS should be paid to the Municipality where the contracting party is located.   However, the enforcement of the Law is suspended by […]

STF decision – Third Party Social Contribution – SEBRAE, APEX E ABDI

On a judgement held last week, the Federal Supreme Court (“STF”) decided that social contributions to Sebrae, Apex and ABDI on the companies’ payroll are constitutional. According to the taxpayers’ interpretation, the social contributions do not have Constitutional grounds to be charged after the Amendment nº 33/2001, which included item III in §2 of art. […]

IN RFB nº 1975/2020 – FUNRURAL – Indirect Export

On September 10th, the Brazilian Federal Tax Authorities (“RFB”) published Normative Instruction nº 1975/2020 revoking paragraphs 1 and 2 of art. 170 of Normative Instruction No. 971/2009 that regulated the levy of FUNRURAL on the revenues resulting from indirect exports (carried out by a trading company or exporting company). The revoked paragraphs were declared unconstitutional […]

ICMS Tax Benefits end as from November in São Paulo

The State of São Paulo published Decree No. 65,156/2020, which established October 31st and December 31st as deadlines for several ICMS tax benefits based on Agreements among States. Accordingly, as from November 1st, 2020; and January 1st, 2021; ICMS tax benefits included in Annexes I (exemption); II (reduction of the tax calculation base); and III […]