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October 06, 2014

Succeed in Brazil: The New Tax Reform

Event held by the Brazilian-American Chamber of Commerce Southeast (BACC-SE) and InvestAtlanta in Atlanta on September 9, 2014. The event addressed the topic "How to invest in Brazil" from a business and tax perspective, and discussed the current Brazilian scenario, preceding the 2014 Presidential Election.

"The market reacted very positively to the candidacy of Marina Silva, who now has great chances to win the elections in Brazil" said Sergio Rocha, expert and PhD in Law and Economics and the speaker of last Succeed in Brazil. According to Sérgio Rocha, the elections scenario in Brazil changed after the tragic death of Eduardo Campos and the announcement of Marina Silva as a candidate for presidency. "The economic program of Marina Silva has key aspects that are relevant to the market and contributes to her growth", said the speaker. He completed stating that the economic program of Marina Silva has a most rigid control over government spending, concentration on the budget balance, maintaining taxes at the current level, autonomy to the Central Bank and reduce intervention in Brazilian currency.

The event also gave an overview of the Brazilian economy, which now has the USA as its main investor. "Brazil is the fifth largest country to foreign investment", Sergio said, showing the value of 63 billion dollars in 2013. The speaker also said that the high rate of interest is one of the main attractions for investors. Moreover, according to the speaker, the IOF (Tax on Financial Operations) is very relevant to people interested in investing in Brazil, as it can vary from 0% to 25%. "This is an intervention tax applied by the government, a way to prevent speculation and control the type of investment, focusing more on long-term investments," Sergio said.  

The Reform of income tax, types of companies, national taxation, repatriation of profits and disinvestment were also key themes in the lecture given by Sérgio Rocha.

Sérgio Rocha has more than 15 years of experience as a tax advisor, is Professor of Tax Law at the prestigious State University of Rio de Janeiro and partner of Andrade Advogados Associados, a company of tax law, with 30 years of history and offices in Rio de Janeiro, Sao Paulo and Brasilia. To learn more, visit www.andrade.adv.br.

The next Succeed in Brazil will be provided by Bennett Thrasherand Advisers. The event will be at Hyatt House in Marietta and will focus on tax issues for Brazilians living abroad. If you own property or have income in Brazil; left the country and do not know if your tax situation is regularized before the IRS; or simply want to know more about your fiscal responsibilities, this event is for you.



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