Rafael Moyano, MSc, CGA, CNPI

[EN] Recently, The National Treasury Attorney's Office (PGFN) and the Revenue Service of Brazil (RFB) launched new tax settlement programs, allowing taxpayers to end disputes with significant discounts.   Among the highlighted programs are the tax settlement for active Union debts with discounts of up to 100% on interest, fines, and charges, the small-value tax settlement for debts up to 60 minimum wages, and the tax settlement for debts guaranteed by insurance or surety bond. All programs have specific adherence deadlines, ranging from June to August 2024, and are available through the REGULARIZE and e-CAC portals.   Read the full text and learn more about Tax Settlement programs, material prepared by Daniela Ribeiro de Andrade and Wellington Oliveira Teixeira: https://lnkd.in/eKf7J8dB   #SperlingAdvogados #PGN #RFB #TaxSettlement

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At #FIIPRIORITY in #Rio, André Esteves, Chairman & Senior Partner, BTG Pactual underscores how can #Brazil leverage its #CleanEnergy matrix to address critical global challenges like #EnergyCrisis & #FoodSecurity. Watch the full panel: https://lnkd.in/dBks4iaa

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The Unspoken “Stealth Debt Default” in Brazil 🇧🇷 Government accounts do not record a major liability: undue tax revenues from massive “input tax credits” recorded by taxpayers but formally/ temporarily not recognized by govs as certain (hence not provisioned), built up over years as “recoverable”, yet not really refundable. Most notoriously, PIS/Cofins at the Federal level (& State ICMS). Since forever, not refunding accumulated credits became “normal” in Brazil, which is simply bizarre (a form of compulsory borrowing), and a major drag on National and Foreign Direct Investment #FDI particularly damaging to #exporters and to any business making Capital Expenditures #CAPEX. The broad “tax reform” currently unfolding promises to ease that pain and gradually eliminate that drag, from 2026 through 2032. But we are still in 2024 and the promised land is still ‘a long ways away. To mitigate this problem of illiquid credits (money owed to taxpayers) a number of partial remedies evolved, over many years. At the state level, transfers of accumulated credits to other taxpayers (eg suppliers) is one such remedy. At the federal level, a system of “cross crediting” accumulated credits of a certain tax (eg recoverable PIS/Cofins) against other tax debts (eg IRPJ/CSLL) of the same taxpayer, although imperfect, has been widely used for nearly two decades. For certain (limited) scenarios, refunds can be viable; most frequently cross crediting is the “least worst” scenario. In practice, and through legal doctrine, however, the system created a fiction (and the authorities a fantasy) that such credits are not govt debts owed to taxpayers, but somehow government grants or expenditures, “benefits” to taxpayers, hence somewhat discretionary - which is fundamentally (and economically) wrong. This is government debt hiding in plain sight - which if unpaid equates to a sovereign default. Cross crediting is always bureaucratic but historically quite certain; the time and resources spent on recoveries representing the borrowing term and risk. Default risk at the federal level has been “low enough” (give or take certain specific situations). This last week however such default risk - at the federal level - has spiked. Desperately seeking cash/revenues, the federal government turned to economic DEFAULT - by severely limiting the cross crediting of PIS/Cofins. Provisional Measure 1227 was published on June 4th shocking the market, without any democratic debate, any transparency, and is simply bizarre. So bizarre and opaque, it is a trust destroyer. Taxpayers of all sectors - all sectors - immediately manifested their shock and strong opposition to this bizarre #MP1227. Legal action will be taken questioning the validity of the MP under Constitutional law, among other arguments. Political opposition is even stronger. Hopefully this MP will die a quick death and will never become permanent federal law. CNI - Confederação Nacional da Indústria Amcham-Brasil PwC Brasil

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well this (one) nightmare is officially over. after tremendous pressure made by the private sector (and I’m proud to say CNI - Confederação Nacional da Indústria leadership was key) MP 1227 was partly RETURNED to the President (succinctly “ejected” from parliament) dying a very quick death. while it is probable that some other tax-raising measure might still come up, it is unlikely it would be without debate, treacherously “by surprise” as this failed MP attempt was; this whole fiasco nonetheless served for a unified private sector to really start demanding the end of tax hikes and the use of AUSTERITY on the expenditure side of the budget equation. it may seem obvious (and obviously difficult) but the inefficiency of public spending in Brazil - like our tax burden - is also uniquely perverse, exotic, and excessive. Time to tackle both, we need more efficiency in our tax system but we also need a lot more efficiency in public spending here in Brazil!🇧🇷

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Confused about the differences between Simples Nacional, Presumed Profit (Lucro Presumido), and Actual Profit (Lucro Real)? Our latest reel breaks down each tax regime, explaining the benefits and requirements for businesses in Brazil. 📊✨ Whether you're a startup or an established company, choosing the right tax regime is crucial for your financial success. Watch the video to learn more and make informed decisions for your business. Got questions? Drop them in the comments below! 👇 #BusinessInBrazil #TaxRegimes #SimplesNacional #LucroPresumido #LucroReal #Integrance #TaxAdvice

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The T20 Communique is out and one of the recommendations to the G20 is to "establish Data20, a multistakeholder platform to enhance cooperation on global data governance: Data20 should serve as a hub for collaboration across the G20 and its existing formal engagement groups... Debates on data governance should be centered on crosscutting issues such as information integrity, climate justice, health, the future of work, nondiscriminatory Artificial Intelligence (AI) systems, Digital Public Infrastructures (DPIs), and regulatory parity based on human rights and data justice". 

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🔹 Thrilled to Share Insights from 2024 CFO Forum 🔹   As a finance professional, I am honored to have received an invitation to join 2024 CFO Forum, organized by Americas Society/Council of the Americas and hosted at Bank of America in São Paulo. My gratitude flows as I reflect on the exchange of knowledge and financial insights. Here are some of the topics discussed, relevant across Latin America and Brazil:   🌎 The enlightening outlook on Latin America and Brazil delivered by David Beker offered a window into the economic forecasts and trends that are shaping our regional market. The analysis served as a critical guide for strategic decision-making within the tumultuous global economy.   💳 Stepping into the future of finance, the presentation on the Brazilian Digital Currency (DREX) by Alessandro Fraga, a Financial Market Infrastructure Specialist from Banco Central do Brasil, was a standout. The introduction of DREX not only reflects Brazil's innovative strides within digital finance but also sets a benchmark for secure and efficient transactions that will undoubtedly transform our financial landscape.   🇧🇷🇦🇷 The intricate dynamics of Brazil-Argentina trade relations were analized with expertise by panelists, including Andrea Pinto from Ford Motor Company, João Batista Ribeiro from Dell, and Juan Pablo Ronderos from MAP. Their collective experience painted a comprehensive picture of the challenges and opportunities that lie ahead for cross-border commerce within these powerhouse economies.   🛡️ On the vital frontier of cybersecurity, Eduardo Bianchi Rolim, CRISC, CDPSE from Bank of America, underscored the increasingly critical role of safeguarding our digital assets. As threats evolve, his insights remind us of the relentless pursuit of resilience and vigilance required to protect our organizations.   In addition, the contributions of Marcos Oliveira from Palo Alto Networks and Tadeu Marcon Teles from Moody’s added profound layers to the discourse, emphasizing the synergy between market analysis, risk management, the role of finance executives, and technological defense mechanisms.   The collective knowledge shared at the forum is a testament to the intellectual capital present in today’s finance industry, and it's a privilege to be part of this environment that fosters growth and learning.  

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Mactur provides data and analysis on the global economy's macroeconomics for the first quarter (Q1) of 2024. Consumer confidence, spending, and inflation have become significant concerns amid global economic uncertainty. https://lnkd.in/dQKRf3AR Brazil has seen a record high in consumer confidence this year, while the eurozone's GDP remains stagnant. Advanced economies have also seen a significant reduction in consumer inflation, reaching around 2-3%. Stay updated with the latest regional and global economic trends and risks with MCk's Global Economics Intelligence executive summary by Sven Smit and coauthors. Gain in-depth insights into the economies of the US, the EU, the UK, China, India, Brazil, and Russia. ______ Follow our thinking   At a glance:   At Mactur, we provide advisory services on corporate turnarounds (operationalising restructurings and enterprise-wide transformations).   At CORTMA, we apply an entrepreneurial ecosystem-based approach to facilitate the lower mid-market (MSME) business transfer.   Enjoy my insightful content curation, and thank you for letting me be a part of your reading world. ______ #Growth #Marketing #Technology #Ecosystems #Turnarounds #Management #Entrepreneurship #Economy #Strategy #Leadership #Directorship #Data #businessContinuity #CortmaTranferOfSMEs #SMEs #globaltrends #inflation #McKinsey

Boas novas sobre o TAX Free Shopping!

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Feijó Lopes Whitepapers: Check out the 5 Key Points for Investors in Brazilian Receivables Purchase, aiming to mitigate some of the main risks in a market with great opportunities. Click here to dive deeper: https://ow.ly/qImR50RUrNl #BrazilUSCham #Brazil #Investments #LawFirm #WhitePapers Via Feijó Lopes Advogados

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Weeks ago, Brazil Week 2024 took place, an event aimed at discussing topics related to economic future, innovation, and sustainability, held in New York City, United States. As ambassador of innovation, sustainability, and international reputation of Mato Grosso, my attendance at this event is routine, and every time I return, I always come back with significant agreements and connections. This time, I was accompanied by the Governor of Mato Grosso, Mauro Mendes, and we brought the agenda of decarbonizing the state, which has been our mission. Throughout all our meetings, our goal was to advance with MT35, which aims to achieve carbon neutrality by 2035. This was a commitment declared by the governor years ago, where I stood by his side and we continue to progress further. In this edition of Brazil Week 2024, many companies expressed interest in participating and investing in this project, including one of the world's largest economic groups, which wants to join this initiative with Pro Natura Internacional. Also noteworthy was a group formed by one of the biggest figures in the financial market, who will be involved with Brazil's climate changes. The success of this event and the engagement of key figures demonstrate a growing recognition of the importance of innovative solutions to environmental and economic challenges. I am optimistic about the potential impact these partnerships can bring to Mato Grosso and Brazil as a whole, marking the beginning of a promising journey towards a greener and more prosperous future. I say without any fear of exaggeration that Mato Grosso and Brazil in general have the potential to lead the planet, through our natural resources, technology, economy, awareness of government officials, and the Brazilian private sector in the environmental, climate, and social fronts. Soon, I will bring here the results of these partnerships and keep you updated on the next projects. #BrazilWeek2024

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Entrem em contato comigo para mais detalhes ou versao impressa! The Israel-Hamas war has thus far — beyond the human cost — had a limited global economic impact but remains a geopolitical powder keg, with sharper escalation a real risk. Based on extreme moves in oil prices seen in past Middle East conflicts, notably the first Iraq war, military engagement between Israel and Iran could drive oil prices to $150 a barrel or higher, given the risk of targeted attacks on regional oil facilities and the potential closure of the vital Strait of Hormuz. Access Bloomberg Intelligence’s latest report here: https://bloom.bg/3xI65uW #corporations #trading #oil

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