In brief On 13 March 2024, the Brazilian IRS published Normative Instruction 2.180/24 (“IN 2.180/24“), which provides for the taxation of income earned by individuals resident in Brazil from non-interest-bearing deposits abroad, foreign currency held in kind, financial investments, controlled entities and trusts abroad, as well as the option to update the value of assets and rights abroad. The long-awaited IN 2.180/24 regulates Law 14,754/23, which was passed on 12 December 2023 and brought important clarifications regarding the taxation by Income Tax of individuals (IRPF) with asset ..read more

In brief On 19 March 2024, the Public Notice of Special Settlement Agreement No. 1/2024 was published, which provides for the opening of the Zero Litigation Program 2024, a new special settlement agreement for tax debts in administrative litigation within the scope of the IRS of Brazil, the value of which, per litigation, is up to BRL 50,000,000.00. Discounts and payment terms will be determined according to the degree of recoverability of the debts. The deadline for joining the Program is 1 April 2024 to 31 July 2024. Details The main features of the Public Notice are as follows: Deadline: f ..read more

In brief On 3 April 2024, the Federal Revenue of Brazil (RFB) issued Normative Instruction No. 2184/2024, which regulates the tax transaction provided in Article 14 of Law 14789/2023. This transaction aims to encourage companies to pay IRPJ and CSLL (corporate income taxes), resulting from the exclusion of investment subsidies made in disagreement with Article 30 of Law No. 12973 of 13 May 2014, provided that they have not been subject to assessment. The deadline for joining the program is as follows: From 10 April 2024 to 30 April 2024 for calculation periods up to 31 December 2022 From ..read more

In brief On 13 March 2024, the Brazilian IRS published Normative Instruction 2.180/24 (“IN 2.180/24“), which provides for the taxation of income earned by individuals resident in Brazil from non-interest-bearing deposits abroad, foreign currency held in kind, financial investments, controlled entities and trusts abroad, as well as the option to update the value of assets and rights abroad. The long-awaited IN 2.180/24 regulates Law 14,754/23, which was passed on 12 December 2023 and brought important clarifications regarding the taxation by Income Tax of individuals (IRPF) with assets abr ..read more

In brief The Labor Department (MTE) has disclosed in its website some clarifications for Frequently Asked Questions (FAQ) about the New Equal Pay Law. The publication of the FAQ, which was very anticipated by employers, covers questions ranging from the purpose of the creation of the Law to more specific aspects of the publication of the Salary and Remuneration Transparency Report. Among other aspects covered, we have the following: Information will be handled by each Federal Tax Registration – full ‘CNPJ’. If a private legal entity with 100 or more employees has more than one CNPJ, it will b ..read more

In brief With the recent updates from the Labor Department re. the Pay Transparency Report (for companies with 100 or more employees), our Employment and Compensation Group has produced an infographic with the main points of attention related to the topic. Click here to access the Infographic. * * * * * Trench Rossi Watanabe and Baker McKenzie have executed a strategic cooperation agreement for consulting on foreign law. The post Brazil: Recent updates by the Labor Department re. the Pay Transparency Report – For companies with 100 or more employees (Law 14,611/2023) appeared first ..read more

In brief The National Bank for Economic and Social Development (Banco Nacional de Desenvolvimento Econômico e Social (BNDES)) has informed financial institutions of the extension of the prohibition on contracting rural credit operations and the suspension of the release of funds to clients with current embargoes registered in IBAMA’s Register of Environmental Charges and Embargoes and who have not taken effective measures to regularize them. SUP/ADIG Circular No. 76/2023-BNDES included this prohibition in SUP/AIDIG Circular No. 13/2022-BNDES, which sets out guidelines ..read more

In brief On 21 December 2023, the Brazilian House of Representatives approved the new text of Bill 2.148/15 (PL), which aims to create the Brazilian Greenhouse Gas Emissions Trading System (SBCE), i.e., the regulated carbon market in Brazil. The text will still be sent to the Brazilian Federal Senate and could return to the House of Representatives if further changes are made. Access the official text (in Portuguese) here. Our Environment, Sustainability and Climate Change team is following every step of the process and has prepared a detailed alert to help you understand the main aspects ..read more

In brief On 16 December 2023, the House of Representatives approved the bill of the Tax Reform, based on PEC 45 (Constitutional Amendment Bill), in the final round after the Senate’s approval.  The final wording was published on 21 December 2023 (Constitutional Amendment No 132/23). See below a summary of the matters that were included by the Senate, but were excluded by the House of Representatives from the final version approved: “Sin Tax” (IS) and CIDE: Suppresses the creation of the CIDE and maintains the IPI to guarantee the competitiveness of the ZFM (Manaus Free Tax Zone). IS ..read more

In brief Federal Decree No. 11,786/2023 was published on 21 November 2023, establishing the National Policy for Quilombola Territorial and Environmental Management (PNGTAQ). The policy aims to, among others, support and promote territorial and environmental management practices of quilombola communities, strengthen the territorial and environmental rights of these communities, and promote the implementation of public policies in an integrated manner and the conservation and sustainable use of biodiversity. More details The PNGTAQ was approved on the day that commemorates Black Consciousness in ..read more