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Brazil's Senate is discussing an amendment to the Federal
Constitution, No. 13/19, that aims to modify article 156. If the
bill is enacted into law, the environmental parameters of an urban
property will be considered in assessing its property tax
(IPTU).
Among the measures proposed, exemption from payment would be
applied to urban areas with native vegetation.
The amendment also proposes that the IPTU rate would vary
according to other environmental parameters, such as the reuse of
pluvial waters and wastewater, the level of permeability of the
soil and the use of renewable energy on the property.
The bill was recently approved by the Senate's Commission of
Constitution and Justice and will now be debated in the
plenary.Brazil's Senate is discussing an amendment to the
Federal Constitution, No. 13/19, that aims to modify article 156.
If the bill is enacted into law, the environmental parameters of an
urban property will be considered in assessing its property tax
(IPTU).
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."
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.
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