Ned Bittinger

The Business Side of Art

This content shows Simple View

provided for in law number

Ricardo Tosto Opines On The New Resources Repatriation Laws

Ricardo Tosto has broad experience in the legal field. He is a founding partner at Leite, Tosto, and Barros. Ricardo has successfully represented clients in various suits across legal categories. He is a force in banking legal representation. In one of his notable recent suits he successfully defended a Swiss client who had been accused of money laundering. He has recommended the passing of the resource repatriation law that has enabled the legal fraternity to follow up on Brazilian resources tucked away in foreign countries.

The Resource Repatriation Law

The law was finally approved by Congress after a series of debates that aw the reviewing of the income tax rate charges. The income tax based on the exchange rate was reduced from 17.5 % to 15%. The fine was also cut down from 17.5% to 15%. The review rates were tabled by Mr. Manoel Junior, the rapporteur of the text and agreed on. Tosto further explained that the exchange rate in 2014 was about R $ 2.65.

Amnesty Possibilities

According to Ricardo Tosto, the new law gives an allowance for amnesty to offenders. He observes that there is a possibility of the offenders being acquitted of such crimes as money laundering, tax evasion, and misconduct. He says such possibilities are provided for in law number 13.254. Tradition demands that it is only the serious crimes that prohibit amnesty. According to the Leite, Tosto, and Barros, a partnership between Brazilian lawyers and international lawyers is useful in the war against corruption, money laundering and the hiding of illegally acquired assets in foreign countries. Such cooperation, he says will help track the individuals that are hiding assets in foreign countries. He further adds that the regularization of assets held abroad is mandatory if the war against the offense is to be won. In short, the lawyer says that tucking money away in foreign countries is a crime; if the Brazilian tax authorities do not know about it. He says that the law is a chance to regulate the illegal money held outside of Brazil. Cooperation between the legal fraternities, Ricardo Tosto says, is a chance to seal the gaps and make it harder for the perpetrators to continue with their schemes.

About Ricardo Tosto: www.crunchbase.com/person/ricardo-tosto#/entity




top