Retrocession This new regulation restricts private pension plans, and insurance cooperatives, microinsurers and insurance companies operating only with DPVAT (mandatory auto insurance for personal damages caused by vehicles) to accept risks in retrocession¹. Pursuant to this new rule, retrocession with insurers placed in Brazil or abroad can be placed directly with the insurer or intermediated … Continue Reading
Published in the Global Arbitration Review, the chapter on the Enforcement of Foreign Arbitration Awards in Key Latin America Jurisdictions summarizes the arbitration law and practice of certain jurisdictions that have experienced an important development in the past 20 years in their arbitration landscape; they are also countries with significant economic growth. The countries in … Continue Reading
On August 1st, 2017, it was published the Executive Decree no. 9,115/2017, which internalized the Convention for the Avoidance of Double Taxation between Brazil and Russia (“Brazil-Russia Treaty” or “Convention”), signed in Brasilia on November 22nd, 2004. We have focused on the most relevant points, considering most usual queries of taxpayers. According to article 2 … Continue Reading
Please read the Q&A with members of our network firm, Campos Mello Advogados, in the recent issue of Latin Lawyer discussing the Oil & Gas Sector in Brazil. You may access the full content of the interview here. By David L Meiler and Barbara Bittencourt Campos Mello Advogados (in Cooperation with DLA Piper) … Continue Reading
ANVISA – Brazil’s National Health Surveillance Agency – has taken a significant step in strengthening its regulatory framework. In promulgating RDC No. 153/2017, it is reducing the amount of regulatory red tape in the licensing of companies subject to health surveillance. The strategic goal of this ANVISA resolution is to rationalize, simplify and harmonize procedures … Continue Reading
See below for Portuguese The National Industrial Property Institute (INPI) has published Normative Instruction (NI) No. 71/2017, establishing new procedures for the submission of computer program registrations. The NI 71/2017 was created in order to serve as a transition between the current (physical) model and the new electronic system, which is expected to be implemented … Continue Reading
Brazil’s Decree No. 9,041/2017, which is now in force, regulates Law No. 13,365/2016, which changed the current criteria for investments and operations in the Brazilian pre-salt areas. Such alterations came at a critical moment and it is expected that they will help to attract foreign investments. The Brazilian government recently authorized and defined the areas … Continue Reading
After 15 years, the feds have finally decided to unlock the system. In order to address certain amendments and add-ons to Law No. 9,276/96, the so-called Intellectual Property Law, in 2001 Brazil’s National Congress promulgated Federal Law No. 10,196. Despite appointing several technical and procedural parameters related to the National Industrial Property Institute (INPI), this … Continue Reading
COSIT CONSULTATION RESPONSE 62/2017 The following are comments to the effects of COSIT Consultation Response No. 62, published on 20 January 2017, which the General Office to Coordinate Taxation (“COSIT”) of the Brazilian Federal Revenue Service (“RFB”) expressed its position on the tax regime applicable to reinsurance companies operating in Brazil. Portuguese language is below.… Continue Reading
BRAZILIAN FEDERAL REGIONAL COURT: IMPORTATION AND COFINS-IMPORTATION APPLIES TO (RE)INSURANCE BUSINESS By Campos Mello Advogados, an independent law firm in Brazil in Cooperation with DLA Piper The Brazilian Federal Regional Court recently unanimously decided that insurance policies and reinsurance agreements are equivalent to rendering of services; therefore PIS-importation and COFINS-importation (PIS/COFINS-importation) applies to premiums … Continue Reading
Analysis by Campos Mello Advogados in Brazil (in cooperation with DLA Piper) For more information, please contact Lynn Cadwalader (US). The Brazilian Securities Exchange Commission (Comissão de Valores Mobiliários – CVM) has submitted for public comment a proposal for a new ruling (Instrução Normativa) (the CVM Bill) − aiming to regulate the public offering of hotel-related … Continue Reading
By Alex Jorge, tax partner, and Marcelo Siqueira, senior tax associate, of Campos Mello Advogados in Brazil (in cooperation with DLA Piper) On November 7, 2016, the Brazilian Federal Revenue (“RFB”) released the draft of a proposed Normative Rule (Public Consultation RFB No. 11/2016 – click here) regulating the implementation of Country-by-Country Report (“CbC Report”) … Continue Reading
The Brazilian Supreme Court recently suspended the permission granted by Normative Opinion No. 461/12E, issued by the General Internal Affairs of State of São Paulo (Corregedoria-Geral de Justiça de São Paulo) in December 2012, which had recently permitted the acquisition of rural properties in the State of São Paulo by Brazilian companies controlled by foreign … Continue Reading
On October 18th, the National Industrial Property Institute (INPI) published Resolution INPI/PR 172/2016, to improve the analysis and recognition of so-called “highly renowned” trademarks in Brazil. The alterations brought by the new resolution were formulated based on the suggestions of associations involved in the industrial property area, such as the Working Group on Trademarks of … Continue Reading
In a decision issued in September 2016, the Superior Tribunal of Justice (STJ) – the highest court for non-constitutional matters, with responsibility for harmonizing interpretation of federal laws by the state and regional federal courts of appeal – analyzed (among other matters) the validity of arbitration clauses in franchise agreements in Brazil, in Special Appeal … Continue Reading
By Terence Trennepohl, Bruna Rocha and Fabiano Gallo on Posted in Brazil
On August 25, 2016, Brazil’s National Health Surveillance Agency (“ANVISA”) granted a new resolution (“RDC”) to improve a bordering field of the product registration process. This new procedure aims to address reported problems concerning red tape slow process of ownership transfer of registered products before Health Surveillance Agencies.… Continue Reading
With the conclusion of former President Dilma Roussef’s impeachment procedure, the government of President Michel Temer announced, on September 13, its first set of infrastructure projects to be privatized, whether by concession or by assignment. The announcement was followed by the publication of Resolution nº 1 of the Council for the Investment Partnerships Program, regulating … Continue Reading
Aiming for a more prompt notarization system, Brazil has joined as one of the signatory countries of the 1961 Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (“Convention”). The Convention was approved by the National Congress on July 06, 2015, enacted on January 29, 2016 by the Decree No. 8,660, and will … Continue Reading
