São Paulo court freezes OAS shares in Brazilian stadium - BNamericas

São Paulo court freezes OAS shares in Brazilian stadium - BNamericas:



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Whatsapp is back - ruling has been suspended

A Brazilian state court has overruled the decision that ordered whatsapp to be blocked in Brazil.

I still find it terrible that a single judge can put a whole communication system in jeopardy.

Decision is not final, but I don't think that the public prosecutors will appeal agains it.

How can one Judge block Whatsapp in Brazil?

Since  yesterday, there has been confirmation of rumor about suspension of Whatsapp in Brazil (Link to Valor, in Portuguese, here).

It seems the judge has used the powers granted to him by the Marco Civil (Internet law, which I have described in this post).

There is speculation that the cause would be the sharing of pedophily videos, or the refusal, by Whatsapp, to provide information on the users that would be sharing such videos.

Brazil has a long history of blocking internet. In 2007, Youtube went down due to a leaked sex video displaying Daniella Cicarelli, a Brazilian model. At the time there was no specific legislation for such cases .

Since the new Internet Law, such measure are now much easier to enforce.

I would like so stress that Whatsapp (and, in theory, Facebook, its parent company) may be subject to heavy penalties in Brazil, according to Brazilian law. The application of those penalties has not been mentioned by the media yet.

I have always known that Marco Civil was up to no good and would be used as a censorhip tool.

"One court" corporate bylaws - USA x Brazil

This article from WST caught my attention because, in Brazil, the determination of a single court/venue that shareholders must choose when suing a company (public or private) is virtually the rule.

 I have never drafted bylaws or articles of association without this clause, for example.

‘One Court’ Corporate Bylaws Working

• LIZ HOFFMAN
 
• CONNECT

Hundreds of public companies have adopted bylaws over the past two years requiring shareholders suing them to do so in a single court — an effort, advisers say, to impose some order on what had become a litigation feeding frenzy.

It seems to be working.

A new study finds that while shareholders still sue over virtually every corporate transaction — 96% for mergers over $1 billion in 2014, unchanged from prior years —- they’re doing it in fewer courts. Just 40% of deals faced suits in more than one jurisdiction, down from 62% in 2013, according to Cornerstone Research. The number of individual complaints filed per deal also fell to 4.5, its lowest level since 2008.

(...)

Whatsapp may be suspended in Brazil, due to a judge's ruling

After some private messages apps have been banned in Brazil, now it is time for Whatsapp.

Brazilian media is reporting a decision by a single judge that aims at temporarily blocking Whatsapp in Brazil.

I will try to obtain more info on the issue.

Work Visa holders to obtain work booklets faster under new rules | Unknown | Re:locate magazine

Brazil: Vitem-V Work Visa holders to obtain work booklets faster under new rules | Unknown | Re:locate magazine:



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Special Tax Zones in Brazil - Draft Article

This is the draft of an article about special tax zones in Brazil. I would welcome reader's contributions.

Special tax zones in Brazil

The Brazilian federal and state governments offer some tax benefits to promote the incorporation of new companies in areas that need economic enhancement.

Below, the reader will find a list the most important tax programs that can be chosen when establishing a business in Brazil.

	Manaus Free Zone (mostly in Amazonas State) ·        Import tax reduction, provided the product has one of its industrial stages in Manaus Free Zone – MFZ (art. 7º, Decree-Law n. 288) ·        Exemption of  PIS/ COFINS import tax if the products imported is going to be industrialized in Manaus Free Zone (art. 5º, Act n. 10.996); ·        Exemption of IPI tax (art. 9º, Decree-Law n. 288); ·        A reduced rate of 3% COFINS and 0.65%  PIS over the company’s gross revenue if the products are destined to a company also in MFZ (arts. 3º and 4º, Act n. 10.996); ·        A reduced rate of 6% COFINS and 1,3% PIS over the company’s gross revenue if the products are destined to a company outside the MFZ(arts. 3º and 4º, Act n. 10.996); ·        A reduced rate of state vat – ICMS- of 12% for products imported to the MFZ (art. 1º, Act n. 2369); ·        Exemption of the Freight Surcharge for the Renovation of the Navy Merchant (AFRMM) exceptionally, until December 31, 2015 (art. 4º Act n. 9.808).
	Santa Catarina State ·        ICMS (state vat) deferment on goods to be sold within the state intended for the construction of projects that falls within the rules of the “Pro-employment program”; ·        ICMS deferment to the next stage of sales process, if the products are destined to distribution centers in South and Southeast regions (art. 12, Act n. 13.992); ·        Extension of deadline for payment of the ICMS, up to 24 months, if the company sell its products to distribution centers in the South and Southeast regions (art. 12, Act n. 13.992).
	Espírito Santo State Espírito Santo State offers a range of tax incentives that are not expressly authorized by the CONFAZ, a Brazilian organ that regulates fiscal policy. Due mainly to the “fiscal war”, Brazilian Courts are discussing if benefits not authorized by the CONFAZ shall be considered unconstitutional. Therefore, all the benefits offered by the Espírito Santo State should be considered as risky until the final decision is rendered.
	Minas Gerais State Granting of specific benefits, on case by case basis. These benefits normally refer to ICMS exemptions.
	Rio de Janeiro State ·        ICMS deferment in the import of machinery  intended to compose the fixed assets and in the import of inputs for industrialization (Decree n. 36.451) ·        ICMS presumed credit that results on the internal tax rate of 7% and in the in  interstate rate of 12%.(Decree n. 36.451) ·        RIOINVEST: Funding for structuring investments. Program to attract investment to encourage large-scale projects on the State of Rio de Janeiro. (Decree n. 23.012/97) ·        RIOINDÚSTRIA: Financing of industrial projects and non-structuring that do not fit in Sector Programs and Regional. (Decree n. 24.937/98) ·        RIOPORTOS: Deferred payment of ICMS on imports of goods, beyond funding under the Fundes. (Act n. 4.184/03). ·        Reduces the ICMS on imports for 15% and in the case of the goods come through the Tom Jobim International Airport, to 13%. (Act n.  3.383/04)

Sudene/Adene area (Mostly in the Northeast states) ·        Reduction of corporate income tax in 75% for a period of 10 years; (art. 1º, Decree nº 6.539/08). ·        priority sector companies may apply 30% of the income tax due on reinvestment projects, (art. 115, Normative Instruction SRF nº 267); ·        Accelerated depreciation for purposes of computing the income tax (art. 31, I, Act n. 11196); ·        the credits of PIS and COFINS can be used until 12 months after the acquisition of new equipment (art. 31, II, Act n. 11196); ·        Exemption of the Freight Surcharge for the Renovation of the Navy Merchant (AFRMM) exceptionally, until December 31, 2015 (art. 4º Act n. 9.808). (Benefits, except for the first one, are valid only until 2018)

Creating a LATAM strategy? Think outside the Brazilian box | Carlos Bustamante | LinkedIn

An interesting article about when to invest in Brazil and when to choose other countries in Latin America.


Creating a LATAM strategy? Think outside the Brazilian box | Carlos Bustamante | LinkedIn:



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Brazil's Petrobras Corruption Scandal: A Web Comic - Bloomberg Business

I had to post this.



Brazil's Petrobras Corruption Scandal: A Web Comic - Bloomberg Business:



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General increase in import taxes

The government has raised the PIS/COFINS import tax (it is not technically a tax, but a social contribution).

This is applicable, in short, to all kinds of products to be imported from now on. The increase is of about 2%, in average. Some classes of products are subject to different rates.

Since the PIS/COFINS is applicable at the end of the calculation, after the import tax and the industrialized products tax has already been levied, the final increase in the price may reach 4% or 5%.