Market: Brazil

Veirano & Advogados absorb Recife practice

As of July 3, 2000 Veirano & Advogados Associados absorbed the practice of Mauricio de Albuquerque & Antonio Mario Pinto Advogados SC, until now their correspondents, in the northeastern coastal city.

03 July 2000

Amaro, Stuber e Advogados Associados adds new partner to tax practice

Claudio de Abreu became partner at the beginning of July and is responsible for the firm's tax litigation practice. He has experience in defending domestic and international clients in tax related matters in several Brazilian State and Federal Courts. Additionally, he is a professor of tax law at the Pontifical University of São Paulo.

01 July 2000

Brazilian Courts protect personal assets of business owners - July

The Brazilian courts are reviewing many decisions of the lower-instance courts, which allow private property and assets of business owners to be used as payment of debts incurred by their companies.

01 July 2000

Update on new cosmetic products taxation

On June 28, Provisory Measure 1.991 regarding tax on industrialised products (Imposto sobre Produtos Industrializados - IPI) was republished as MP 2.037-19.

28 June 2000

Petrobras in largest ever Brazilian oil and gas financing deal

On June 20 the signing of the US$3.2 billion limited recourse project financing of the Barracuda and Caratinga Project by Petróleo Brasileiro SA was announced.

20 June 2000

Telefónica SA launches intenational share exchange offer - June 1, 2000

The share swap plan, announced in January, involves an offering of a quarter of the companies' value and will consolidate Telefónica's presence in Latin America.

01 June 2000

New rules for establishment of Brazilian financial institutions abroad

The National Monetary Council (CMN) issued Resolution No. 2723 on May 31, 2000, which established the rules, conditions and procedures for financial institutions planning to open branches and representative office abroad.

31 May 2000

Doubt lingers over Brazilian antitrust authority presidency

Continuing uncertainty continues to surround the appointment of the next president of the Brazil's principal antitrust authority, CADE, reports the international journal of competition policy and regulation, Global Competition Review.

13 May 2000

Transactions with ALADI lose official guarantee

The Central Bank of Brazil will no longer undertake the risk of the import/export transactions entered into between the countries of the Latin American Integration Association (ALADI) and the Dominican Republic.

10 May 2000

Reciprocity of taxation treatment with USA

Act 028 of April 26, 2000 of the Internal Revenue Department states US federal legislation permits the deduction of tax, verifiably paid in Brazil, on revenue and income earned and taxed in Brazil.

26 April 2000

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