Bichara Barata slashes Padma’s tax bill

Brazil’s Bichara, Barata & Costa Advogados has helped food producer Padma Indústria de Alimentos, the new corporate name for Parmalat in Brazil, reduce its tax bill from 1.6 billion reais (US$893 million) to 20 million reais, in a case that implies Brazil’s tax agency won’t tolerate incorrect assessments made by its own agents.