Brazil Tax

The Open Capital Market is coming! CVM President explains what it is

The Open Capital Market is an initiative introduced by the president of the Securities and Exchange Commission (CVM), João Pedro Barroso do Nascimento, aimed at strengthening and expanding the capital market in Brazil. The aim is to make the capital market more attractive, inclusive and competitive, contributing to the country’s economic growth. The actions mentioned …

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Provisional Measure No. 1,171/2023: Innovations to the tax regime for assets abroad held by individuals residing in Brazil

On April 30, 2023, the Brazilian Federal Government published Provisional Measure (“MP”) No. 1.173/2023 providing for a new tax regime for income received abroad. Among other aspects, the new rule aims to institute the automatic taxation of income tax on income earned by individuals with residence in Brazil from financial investments, controlled entities, and trusts …

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Significant changes in the Brazilian Transfer Pricing System – Convergence to the OECD Standard

On June 15, 2023, act No. 14,596/2023 was published, which establishes the new Transfer Pricing rules in Brazil. This law is the result of the conversion of Provisional Measure No. 1,152/2022, issued on 12/31/2022. From now on, the Brazilian Transfer Pricing rules will adopt the OECD guidelines. Regarding cross-border transactions, it is worth noting that …

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What is the purpose of the regulation and taxation of sports betting websites in Brazil?

In recent years, the sports betting industry has gained prominence in Brazil. This popularity has led to discussions about the need for regulation and taxation of sports betting websites, which may be necessary to ensure the safety of users and harness the economic potential of this activity. Recently, the subject gained strength with Operation Maximum …

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How to declare crypto assets in the Income Tax in Brazil? Check out important tips on the subject

If you are a cryptocurrency investor, you must be careful when declaring your income in the Brazilian Income Tax. The Federal Revenue has increased supervision over these digital assets and those who do not declare correctly may have problems in the future. According to the Federal Revenue, crypto assets are not legal tender, but can …

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Main practical aspects of Provisional Measure No. 1,171/2023

On April 30, 2023, the Federal Government published Provisional Measure (“MP”) No. 1,173/2023 which, among other aspects, aims to institute the automatic taxation of income tax on income earned by individuals resident in Brazil from financial investments, controlled entities, and trusts abroad. According to article 2 of the MP, this income must be reported in …

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Income Tax Refund 2022 has already started to be paid, be aware of the dates

Federal Revenue Service opened consultations on the residual batch of Income Tax refunds, which has started to be paid on March 31.  In this batch, there were 94,864 taxpayers, among priority and non-priority ones, totaling a disbursement of BRL 300 million. Calendar of Income Tax Refund 2022 1st batch of refund – paid on May …

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Digital Accounting Bookkeeping – ECD

Digital Accounting Bookkeeping, better known as  ECD, is a transmission file created for tax purposes, in which all details of the entry of the ledger, trial balances, balance sheets and other financial statements of active companies in the country are displayed. It is an accessory obligation carried out and delivered through an electronic program of …

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