Simplified Regime Eases Credit Access for Mid-Sized Companies
In an interview with Valor Econômico, our partner Raphael Pires discussed the initial impacts of the Simplified Regime, an initiative by the CVM aimed at expanding mid-sized companies’ access to the capital markets. Created to reduce costs, the regime has been used primarily in debt transactions such as commercial notes. Equity issuance still involves greater […]
What is an earn-out? A clause that can unlock mergers and acquisitions
In an article published by Exame, our partner Daniel Rodrigues Alves addresses one of the most sensitive aspects of M&A transactions: the earn-out. This mechanism aims to resolve a classic deadlock between buyer and seller: disagreements over valuation, by tying part of the purchase price to the company’s future performance. In a scenario still marked […]
With a focus on major defaulters, the PGFN issues rules on bankruptcy petitions
Our tax attorney, Gregorio Caballero, gave an interview to JOTA on a topic that has been gaining relevance in tax litigation: the possibility for the Office of the Attorney General of the National Treasury (PGFN) to file for the bankruptcy of debtors owing to the Federal Government and the FGTS with debts starting at BRL […]
Book Club | Nós: o Atlântico em solitário, by Tamara Klink
This week, our book club met to discuss Nós: o Atlântico em solitário, by Tamara Klink, a writer and navigator who has been gaining recognition for her solo ocean crossings. In the book, Tamara recounts her experience of crossing the Atlantic alone aboard a small sailboat, facing challenges such as solitude, fear, extreme weather conditions, […]
The Greek Gift Called Bonus
One of the novelties brought about by the Labor Reform, almost ten years ago (2017), is the recognition that bonuses should not be subject to social security contributions. However, when it comes to tax matters, things are not so simple. Since then, the Brazilian Federal Revenue Service (RFB) has been issuing pronouncements and restricting the […]
The CVM “knocks on the door”: How the new Inspection and Supervision Plan requires regulated entities to be prepared
On March 13, the Brazilian Securities and Exchange Commission (CVM) launched its Inspection and Technical Supervision Meeting Plan for 2026. Prepared by the Strategic Risk Supervision Superintendence (SSR), the Plan is part of CVM’s risk-based supervision (SBR) strategy and represents a significant shift in how the regulator will conduct its on-site activities with capital market […]
“Trying to hide the sun with a sieve”: the saga of profit and dividend taxation
At the end of 2025, the biggest concern for taxpayers became the new minimum income tax rule, reflected in Law No. 15.270/2025, which stipulates that, starting in 2026, the annual minimum income tax will apply to profits and dividends paid or credited to individuals by legal entities that exceed R$ 50,000 per month. Aware of […]
More of the same? Debate begins on the inclusion of IBS/CBS in the ICMS tax base
In recent weeks, the states of Pernambuco and São Paulo, as well as the Federal District, have taken a stand in favor of including the IBS (Tax on Goods and Services) and CBS (Contribution on Goods and Services) in the ICMS tax base, on the grounds that the new taxes would make up the value […]
Share bonuses and the taxation of dividends: can we increase the acquisition cost of shares after PL 1,087/2025?
Bill 1.087/2025, unanimously approved by the National Congress, proposes a significant change to the Brazilian tax system by introducing a 10% Withholding Income Tax (IRRF) on the distribution of dividends to individuals or non-resident investors, modifying the exemption in force since 1996. In this new legislative scenario, a fundamental question arises that deserves caution: what […]
Bill No. 1,087/25: dividends declared in 2025 and paid until 2028 – exemption or trap?
Following approval in the Federal Senate, the wording of Bill No. 1,087/25 continues to raise doubts as to whether profits calculated up to 31 December 2025 will be exempt from taxation for individuals if paid after that date. Article 6-A of the bill establishes that profits and dividends paid from 2026 onwards, in a monthly […]