December 30, 2021
In the twilight of 2021, Statute #14,286 aims to reduce bureaucracy in Brazil’s foreign capitals regulation and may impact the BRPTO’s role in the registration of licensing and technology transfer agreements.
Following recent initiatives by the Brazilian government in order to improve Brazil’s business environment, Statute #14,286 brings much awaited changes in Brazilian foreign exchange regulation. It has streamlined some reporting obligations to the Brazilian Central Bank when it comes to operations involving foreign capital in Brazil and the remittance of Brazilian capitals abroad.
More specifically, Statute #14,286 has authorized, among others:
In addition, Statute #14,286 expressly revoked, among others:
However, Statute #14,286 did not eliminate the need for licensing and technology transfer agreements registration for tax deduction purposes, which shall remain in force.
Statute #14,286 will become effective on December 29, 2022 and we should expect meaningful changes in the regulation of the BRPTO, the Brazilian Central Bank and, perhaps, in the regulation of the Brazilian IRS as well. We will keep monitoring any updates and will report them as they come up.
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