CVM Guidance Opinion No. 38, issued on the 25th of this month, deals with the fiduciary duties of managers within the framework of indemnity agreements entered into between publicly-held companies and their management (officers, members of the board of directors or audit committee, members of committees established in bylaws, among others).

Companies were surprised last September with the enactment of ICMS Convention 106, which aims to regulate the procedures for collection of ICMS applied to transactions with digital goods and merchandise, traded through electronic data transfer, and grants exemption for withdrawals intended for final consumers.

The 2nd Panel of the Superior Court of Justice (“STJ”) granted a taxpayer’s appeal to recognize that the ICMS cannot be included in the calculation basis of the Social Security Contribution on Gross Revenue (CPRB). The decision was issued in the judgment on Special Appeal No. 1.732.000/SP, on May 3.

One of the greatest labor challenges facing the Brazilian business community today is compliance with the minimum quotas for the hiring of apprentices and people with disabilities or rehabilitated workers.

The Court of Appeals of São Paulo decided in favor of the sale of rural property mortgaged in favor of a Brazilian financial institution equated to a foreign entity, despite the current restrictions on the acquisition and leasing of rural properties by Brazilian companies equated to foreigner entities, as they have a majority of their capital stock and/or control held by foreigners. The appellate decision was published on July 17, by the 23rd Chamber of Private Law of the TJ/SP, in the context of interlocutory appeal No. 2024029-90.2017.8.26.0000, of the District of São Paulo.

Abuses by the State and especially by the tax authorities to impose taxes without proper legal support are not uncommon. This routine fact, in addition to the excessive tax burden, the enormity of instrumental duties, and the extremely high interest rates on arrears and fines, creates a very difficult environment for Brazil's economic development.