There is a global trend to persuade tax transparency by the Brazilian law no. 13,254. First implemented in 2016, the specially created program has over the years encouraged taxpayers to declare their assets to Brazilian authorities. These reports include non reported properties as well as rights sent or hoarded abroad but not legally declared hence the inaccuracy to the authorities. As of 2014, the government insisted that tax payers should participate in the program.
For Ricardo Tosto, the founder of Tosto and Barros, this could be positive partnership given the joint effort to document repatriated resources of Brazilians. Similarly agreeing with this opinion is Nelson William, Tosto’s partner and associate. Joining them on the same line of thought is Gil Vicente Gama who points out that the law bridges the gap between national as well as foreign lawyers.
For Vicente Gama, such partnerships facilitate procedures as well as processes that involve particularities in two or more countries. He associates this case with a project involving asset regularization projects, giving a broad example of Brazil and other countries in which the specific person has resources.
What it Took to Pass this Law
While the law of repatriation was implemented for obvious reasons, it went through tremendous trajectory prior to its approval by the government officials. As reiterated by Ricardo Tosto, the first segment of the implementation had 17.5% income tax in addition to a fine that surmounted to 17.5%. Nevertheless, this amount was levied in the current tax exchange rate. A deeper look into the discussion indicated that there was a new presentation suggesting the reduction of income tax rate to about 15%.
Who is Ricardo Tosto?
Ricardo Tosto is an experienced lawyer. He has a vast knowledge of the law and understands vast terminologies applied in court. Aside from that, he has solid experience in the business and has used this experience to represent clients across different sectors. Moreover, he co-owns a law firm that helps clients to decipher legal matters. Over the past years, Tosto has worked n various corporations that have helped him hone his skills in solving legal matters.
To know more visit @: whoswholegal.com/profiles/51546/0/tosto/ricardo-tosto/