Brazil has its fair share of crime. Pickpocketing and theft of iPhones, passports, and wallets, for example, are common occurrences. Anyone spending time in public places should take measures to prevent unnecessary risk, just as one would in any large city worldwide. But what should you do if you’re robbed in Brazil? Seeking help from a lawyer likely isn’t the answer. If you were robbed back home, you’d probably call the police. The same should be true in Brazil. You can file a police report just as you would in the United States. You can either go in person to a police station or you can file ..read more

For the third time in less than a year, Brazil has postponed the visitor visa requirement for US nationals. Since 2019, Americans traveling to Brazil for tourism or business have been exempt from needing a visa. This was set to change in October 2023. However, as the date approached, the government announced it would postpone the requirement. It did so again in January 2024. Now, Brazil has changed its mind once more. On April 9, just a day before the visa requirement was expected to be reinstated, Brazil announced that it was giving US visitors another year to travel visa-free. The exemption ..read more

What’s the interest rate on your credit card? 20%? 30%? In Brazil, consumers face rates that make these figures look modest. Some credit cards in Brazil have rates that reach a staggering 450%. And no, that’s not a typo. But change is here. Late last year, Brazil passed legislation to cap these exorbitant rates. As of January 3, 2024, the annual interest rate on credit cards cannot exceed 100%. In practice, this means a debt can only double. A November 2023 study from the credit bureau Serasa reported that over one-third of Brazilian consumers are defaulting on their debts, with an average amo ..read more

The Subway sandwich franchise in Brazil has filed for a form of bankruptcy or judicial reorganization. In a recent court filing, the owner of the chain, SouthRock Capital, requested recuperação judicial, which allows financially distressed companies to restructure their debts with creditors. It’s similar to filing for Chapter 11 bankruptcy in the US. Subway isn’t the only US franchise that SouthRock operates in Brazil. And it’s not the first time the private equity group has requested recuperação judicial. In 2023, SouthRock also filed for recuperação judicial with respect to its T.G.I. Friday ..read more

The period for individuals to file their 2024 tax return declarations with the Brazilian federal revenue authority (Receita Federal) has started. Tax residents on December 31, 2023, have a little more than two months to report their worldwide income and assets, and if due, pay the tax. The filing period used to be from early March until the end of April. While dates have changed slightly each year since COVID, the new standard is March 15 to May 31. Filing is required if, in addition to being a tax resident of Brazil at the end of 2023, you meet at least one of the eligibility criteria. For ex ..read more

For millions of workers in Brazil, 2024 is already off to a good start. Effective January 1, the national minimum wage rose from BRL$1,320 (approximately US$270) to BRL$1,412 (US$290). That marks a 6.97% salary increase. The minimum wage has increased steadily over the past few years. In February 2020, for example, it was BRL$1,045 per month. By February 2021, it was BRL$1,100; and by February 2022, it was BRL$1,212. The most recent change reflects the government’s goal of improving the earning potential of workers amid fluctuating economic conditions. The adjustment is not only a response to ..read more

Authorized since December 2018, fixed-odds betting has grown significantly in Brazil. As of the end of 2023, approximately 3,000 websites and apps for betting generated BRL$12 billion. That’s over US$2.4 billion! But until recently, both companies and players were navigating an unregulated field. Law 14790/23, which went into effect in December 2023, now sets the rules for companies in the fixed-odds betting industry. These rules include obtaining government authorization to operate and paying fees for setup and maintenance. The new law also imposes requirements on corporate structure, busines ..read more

Brazil recently enacted a law that significantly alters the way cryptocurrency investments held on foreign exchanges are taxed. The move is part of a broader strategy by the federal government to increase its tax revenue, particularly from assets held outside Brazil. Previously, Brazilian residents who invested in cryptocurrency enjoyed a tax exemption on their investments under BRL$35,000 (approximately US$7,000). Higher valued investments were taxed progressively at rates from 15% up to 22.5%. But as of January 1, 2024, that all changed. Now, Brazil is charging a flat tax of 15% on all inves ..read more

Brazil is synonymous with its beaches. Whether you’re there for tourism or business, odds are you’ll find your way to the sand. But what should be a tranquil experience has become marred by a common annoyance: the blaring sound of loud music. Beachgoers with speakers have transformed Brazil’s beaches into noisy hotspots. Guarujá, a coastal city in the State of São Paulo, has long been a popular weekend destination for locals and tourists. It’s just hours from the city of São Paulo and an easy Saturday morning commute. While the local government has laws that prohibit the use of speakers at the ..read more

Unprecedented. Landmark. Monumental. These are just some of the adjectives being used to describe Brazil’s recent tax reform. No matter how you describe it, it’s truly a significant development. Brazil has one of the most complicated tax systems in the world. In the last edition of its Doing Business Report, the World Bank stated that companies spend an average of 1,500 hours preparing, filing, and paying their corporate taxes each year. Reform is long overdue, but achieving it has been a challenge. Until now... The reform addresses Brazil’s consumption tax (or should we say consumption taxes ..read more