Insights

The Federal Government's initiative to increase the Tax on Financial Transactions (Imposto sobre Operações Financeiras – IOF) rates on various transactions underwent significant developments since our prior advisory (link), as may be seen in the following timeline: The single-justice ruling (decisão monocrática) issued by Justice Alexandre de Moraes on July 16, 2025 created enormous legal uncertainty, as it would permit the c...

On May 22, 2025, the Federal Government published Decree No. 12,466/2025, increasing the Tax on Financial Transactions (Imposto sobre Operações Financeiras – IOF) rates on various credit, foreign exchange, and insurance transactions. In view of the negative market reaction to the measure, Decree No. 12,467/2025 was already published on May 23, 2025, partially reversing the rate increases. Set forth below are the main changes...

The National Monetary Council (Conselho Monetário Nacional – "CMN"), at a session held on May 22, 2025, once again amended the rules regarding the underlying assets (lastro) of real estate receivables certificates (certificados de recebíveis imobiliários – "CRI"), agribusiness receivables certificates (certificados de recebíveis do agronegócio – "CRA"), and agribusiness receivables credit certificates (certificados de direitos...

On March 18, 2025, the Federal Government submitted to Congress Bill No. 1,087/2025 ("Bill"), which proposes the taxation of profits and dividends distributed by Brazilian companies in certain circumstances, and establishes a minimum income tax for individuals, levied on income exceeding a specified threshold, designated as the Minimum Personal Income Tax (Imposto de Renda das Pessoas Fisicas Minimo - "IRPFM"). This measure i...

On March 12, 2025, the Federal Government published Provisional Measure No. 1,292 ("MP No. 1,292"), which amends Law No. 10,820, of December 17, 2003 ("Law No. 10,820"), to establish new rules applicable to payroll-deductible credit transactions (credito consignado) extended to private-sector employees ("Private-Sector Payroll Credit"). MP No. 1,292 expands the pool of eligible beneficiaries of Private-Sector Payroll Credit t...

On March 3, 2025, CVM Resolution No. 214 of the Brazilian Securities and Exchange Commission ("CVM") enters into force, adding Normative Annex VI to CVM Resolution No. 175, of December 23, 2022 ("CVM Resolution 175"), which establishes the specific rules applicable to Agribusiness Investment Chain Funds (fundos de investimento nas cadeias produtivas do agronegocio – "FIAGRO"). In this context, the CVM published, on February 2...

During the period from February 17, 2025 to April 5, 2025, Brazilian tax residents — both individuals and legal entities — that held assets abroad with a total market value equal to or greater than USD 1,000,000.00 (one million U.S. dollars) as of December 31, 2024 are required to file with the Central Bank of Brazil (Banco Central do Brasil – Bacen) the Annual Declaration of Brazilian Capitals Held Abroad (Declaracao Anual de...

In continuation of the Legal Advisories on the regulation of the IBS and the CBS, we set forth the main features of the Specific Regime for Real Estate Transactions. Click here to access the full advisory .

In continuation of the Legal Advisories on the regulation of the IBS and the CBS, we set forth the main features of the Specific Regime for Financial Services, focusing on four groups of activities: Financial Intermediation (Credit Transactions, Foreign Exchange, Securities, Securitization, and Factoring) Asset and Portfolio Management Payment Arrangements Insurance and Reinsurance Click here to access the full adviso...

On January 16, 2025, Complementary Law No. 214 (LC No. 214/2025) was published, regulating the new taxes created by the consumption tax reform introduced by Constitutional Amendment No. 132/2023 (Emenda Constitucional No. 132/2023): the Tax on Goods and Services (Imposto sobre Bens e Servicos – IBS), the Contribution on Goods and Services (Contribuicao sobre Bens e Servicos – CBS), and the Selective Tax (Imposto Seletivo – IS)...

This content is not available in English

This content is not available in English