Normative Instruction No. 1,765/17, published on December 4 of last year, conditioned the receipt of offsetting statements for IPI credits, contribution to PIS, Cofins, and negative IRPJ or CSLL balances on prior confirmation of transmission of tax documents in which the right to a credit is demonstrated.

Investment funds have had a prominent place in the Brazilian financial market because they enable the gathering and consolidation of assets from different investors into a single investment channel.

The São Paulo State Court of Appeals (TJSP) has ruled in a recent judgment that the São Paulo State Tax Authority must reimburse costs and procedural expenses incurred by a defendant acquitted in a public civil action for administrative corruption.

The Brazilian Arbitration Law (Federal Law No. 9,307/1996) enshrines, in its article 8, sole paragraph, the so-called principle of jurisdiction over jurisdiction, according to which it is up to the arbitrators to decide on their own jurisdiction (subject to subsequent analysis by the Judiciary, in the scenarios set forth for annulment of the arbitration award). The principle establishes, therefore, a limit on interference by the state judge, in view of the parties' choice of arbitration.

After the approval and promulgation of Legislative Decree No. 15/2018 by the Federal Senate, on March 20, the Agreement on Air Transport between Brazil and the United States (Open Skies), signed by former presidents Dilma Rousseff and Barak Obama in 2011, awaits only the promulgation of a presidential decree to be enacted.

Heritage funds, also known as endowments or philanthropic funds, have recently been regulated by Presidential Decree No. 851, of September 10, 2018.