quarta-feira, 15 de maio de 2013

Quick Data on Bankruptcy and Tax Free areas

(Feel free to send me more questions, I will try to answer them the best way I can)

Q: Are you aware if Brazil has any "bonded tax-free areas" like Shanghai Waigaoqiao? thanks

Comment: Brazil has a few "Zonas francas", which have considerably lower taxation, such as the Zona Franca de Manaus, in the Amazon Forest. 

In addition to that, Brazil has some tax benefit zones, such as a big one in the Northeasth, where taxation is generally lower. 

Finally, Brazil also has some other tax benefits for parts and raw materials that are imported, industrialized here and then reexported.

Q: Can you provide an overview of the bankruptcy process in Brazil? If so, please briefly elaborate on how your background enables you to discuss this topic.

Comment: Yes. The bankruptcy process in Brazil is relatively fair, by which I mean it is more favorable to the debtors, but not absolutely.

However, government credits, employee’s credits and credits secured by mortgages have clear preferences over commercial debts. 

Thus, big companies seldom pay more than 20% of its outstanding debts to ordinary creditors after the liquidation procedure.  

See also:

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