quinta-feira, 25 de fevereiro de 2016

Recent banking soft-law plus direct surveillance of bank account by the Brazilian IRS



This week, the Brazilian supreme court has ruled that the Brazilian Revenue Service (Receita Federal) can have access to all Brazilian bank accounts without the need for a mandate or warrant. The decision came following the publication of a FATCA-like regulation. But, to be honest, similar provisions already existed in Brazilian law and its validity were pending the result of other lawsuits presented to the Supreme Court.



This effectively pust an end to the right of financial privacy in Brazil. The rules are valid for all bank and financial transactions over about 500 USD.



I will write a detailed report about this ruling later. I`m just anticipating this because of the link below, which mentions the publication of a compilation of Supreme Court rulings about bank and financial matters. I encourage you to read it.





Brazil: Recent banking soft-law | IFLR.com:



'via Blog this'

terça-feira, 9 de fevereiro de 2016

Event on Brazilian agribusiness - New York

I'm not (yet) part of the event below. But his blog likes to talk about purchase of rural land in Brazil (for example, here)




Monday, April 25, 2016
Investment Opportunities in the Brazilian Agricultural Sector
Despite Brazil’s continued political and economic turmoil, agricultural export is one sector where a bright outlook still prevails.
Revenue from agri goods priced in foreign currencies and production expenses denominated in reais are primed to increase margins for producers targeting the export market. Meanwhile, the commodities price bust and a tapering-off of finance capital have pushed asset prices down, representing a possible opportunity for high-risk investors.
Brazil’s farmers have suffered from this, and domestic consumption is also down, meaning prospects for producers targeting domestic markets look equally challenging. But a weaker currency could be a gift for operators selling on the international market, as revenue from agri goods priced in foreign currencies promises to stretch further when it comes to paying domestic expenses in reais.
Agricultural products grew to nearly half of Brazilian exports in 2015, according to Brazil’s Ministry of Agriculture, as the country’s top non-agricultural exports, iron ore and petroleum, fell to a fraction of prices seen just a few years ago. It is believed that the real will depreciate more, thereby generating further opportunities in agriculture. The agriculture sector has a unique competitive advantage with prospects for productivity growth from technological innovation. At the same, time scarce financing sources and a shrinking economy have left sellers hungry for cash, meaning assets could be available at cheaper prices – even if that means taking on the risk of entering a plummeting economy. However, as we know, investors in this sector have a long-term horizon.
Several investors in South American agribusiness predict that the current conditions will give way to a number of high risk/high reward opportunities for investors in Brazilian agriculture. Meanwhile, finance-starved asset holders could create opportunities for investors willing to commit to a long-term play, although at a significant short-term risk. Active investors have already seen asset prices fall. Meanwhile, growers who have been hit hard by falling commodity prices will see increased liquidity this year, driven by the weakening of the real. Brazil right now is a buyer’s market. According to investors involved in recent transactions, one can get significant discounts if willing to invest in local farmland or local companies and pay cash.
But investing in Brazilian farming is not for the faint-hearted and requires significant access to local knowledge. As in many areas, Brazil is not for beginners. That is because the upside potential falls unevenly across different regions and sub-sectors of the country’s agri sector. Major grains, for example, are likely to perform much better than crops that rely on local consumption. The effects of climate change such as El Niño are expected to have a more pronounced effect on some remote northern regions. And the uncertain political situation exacerbating the country’s economic woes makes it hard to predict how future policy decisions will affect the sector.          

Host
Location:

300 Madison Avenue
Auditorium
New York City
Time:
8:00 a.m. to 8:30 a.m. - Registration, Breakfast and Networking Session
8:30 a.m. to 10:30 a.m. - Presentation, Panel Discussion and Q&A

Registration Information
Member Price: $35
Non-Member Price: $70
Click here to register online.
Click here to download the registration form.