After all, is debt forgiveness considered revenue for tax purposes or not?
There has been a long controversy surrounding the taxation of PIS/Cofins on amounts resulting from debt forgiveness. On the one hand, there are those who argue that, since debt forgiveness is a write-off in companies’ liabilities — coinciding with the accounting concept of revenue —, it should be included in the calculation basis for these […]
Duty of Care: CVM intensifies duties and standards of conduct for administrators
How far does an administrator’s duty of care go? How can we know if an administrator is responsible and prudent enough in the performance of his/her duties? Recently, the board of the Brazilian Securities and Exchange Commission (CVM) concluded the judgment of the Administrative Sanctioning Proceeding (PAS) No. 19957.007916/2019-38, in which the conduct of Vale’s […]
Dividend or donation? The debate on the taxation of disproportionate distribution
Is ITCMD (tax on donation and estate) levied on the disproportionate distribution of dividends? The answer to this question is a little more complex than it seems. The Brazilian Civil Code, in its articles 1,007 and 1,053, allows limited liability companies to distribute dividends in a disproportionate manner, provided that this possibility is provided for […]
CVM seeks to open the doors of FIPs (private equity funds) to the public and drive a revolution in the investment market
In a highly anticipated move that is full of disruptive potential, the Brazilian Securities and Exchange Commission (CVM) launched a public consultation at the end of December to review some of the rules applicable to Private Equity Investment Funds (FIPs). Public Consultation SDM No. 03/24 proposes a true modernization of Annex IV of CVM Resolution […]
Taxation of investment funds in the tax reform – after all, which funds will be affected?
Investment funds are entities without legal personality. One of the main practical implications of this is that, in theory, it is impossible for an investment fund to be considered a taxable entity. This ensures that taxation is carried out at the level of the fund’s shareholders, and not on the actual fund and its portfolio. […]
IFIX ignores Copom meeting and rises with the prospect of a tax cut for FIIs
Tax exemption has always been one of the attractions of property funds for investors. With the rule changes, FIIs will now be classified as ‘service providers’ and subject to the Contribution on Goods and Services (CBS) and the Tax on Goods and Services (IBS). In an interview with E-Investidor, Júlia Vituli, a lawyer at Candido […]
Alamy Candido shares his experience of planning, governance and transparency during inheritance succession
Inteligência Financeira published an article with practical tips for organising the succession of assets. Our founding partner, Alamy Candido, shared his experience on how planning, governance and transparency are fundamental to protecting assets. Some of the points covered were: the advantages of organising succession during life; the instruments available to protect assets; and how to […]
Financial sector wants vetoes overturned to prevent taxation of funds in tax reform
The financial sector and parliamentary fronts are mobilising to overturn the president’s vetoes on the taxation of Real Estate Investment Funds (FIIs) and Fiagros, an issue that could have significant impacts on investors. Our lawyer, Júlia Vituli, contributed to the Folha de S.Paulo report, pointing out that judicialisation of the issue is a possibility. ‘The […]
Real Estate Holding: what to expect with the Tax Reform (Complementary Law 214/2025)
Check out more about the new rules for taxing rental income by IBS and CBS, explained by our lawyers Maria Paula Carvalho Molinar and Igor Ferreira. According to them, based on projections for the post-2033 period, when the tax reform comes into full effect, the tax burden on rental income applicable to real estate holding […]
Major tax cases worth R$1 trillion will be on the court’s agenda in 2025
The Folha de S.Paulo report highlights the main tax cases in the Judiciary in 2025. For partner Tatiana Del Giudice Cappa Chiaradia, the latest decisions by the Supreme Courts on tax issues point to a trend of modulation of effects that favours taxpayers who have gone to court and sometimes failed to pay the taxes […]