On December 9th, 2015, Law No. 13,202/2015 was published to convert into law Provisional Measure No. 685/2015.
It is important to highlight that Sections 7 to 12 of MP 685/2015, which established the tax obligation to inform the Tax Authorities about operations that result in the suppression, decrease or deferment of taxes was excluded from Law No. 13,202/2015.
In relation to the Program to Reduce Tax Litigation ("PRORELIT"), also created by MP 685/2015, the deadline for the application to participate in it was extended until November 30th, 2015.
Among other amendments, Section 11 of Law No. 13.202/2015 provides that, for interpretation purposes, international treaties and conventions to avoid double taxation signed by Brazil shall include Social Contribution on Net Profits - CSLL.
Additionally, Section 15 of Law No. 13,202/2015 modified Section 7-A of Law No. 12,546/2011 to maintain at 2% the tax rate of the Social Contribution on Gross Revenue for road collective transportation companies classified in the items 4921-3 and 4922-1 of the Brazilian Classification of Economic Activities ("CNAE 2.0"); railway transportation companies classified in the items 4912-4/01 and 4912-4/02 of CNAE 2.0; and underground transportation companies classified in item 4912-4/03 of CNAE 2.0.
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Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."
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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.