Industries and markets

Brazil: Tax Breaks for Oil and Gas

In order to explore, develope and produce oil, natural gas and other fluid hydrocarbons, certain industrialized goods are needed. The process of acquiring and using them is called Repetro-industrialization. As of July 17, 2019, there

Brazil: Postponed deadline for EFD-Reinf Report

With the Normative Instruction No. 1,900/2019, the Federal Revenue deferred to the EFD-Reinf report for Group 3 from July 2019 to January 2020. For more information on EFD-Reinf click here.   These regulatory changes could

Brazil: Deductibility of Software Licensing Fees

The Brazilian Internal Revenue Service has published the Consultation Solution COSIT 182/2019 stating that the payment of fees for the licensing of software distribution rights to indirect controllers of the same economic group are, in

Bolsonaro Says Government Will Not Introduce New Taxes in Brazil

“President Jair Bolsonaro said on Friday, July 19th, that the Brazilian government will not introduce new taxes and that the Provisional Contribution on Financial Transactions (CPMF) would not be resurrected”

Argentina designates Hezbollah “terrorist” organisation

“Argentina has accused top Iranian officials and a Hezbollah operative of being behind the AMIA attack in 1994.”

Mercosur aims for tax-free car sales

“Experts discuss internally what the approach and timing should look like.”

Bolsonaro’s 200-day administration stimulus package will be announced 24 July

“Brazil’s government is expected to detail its plans to release funds from the workers’ severance fund, known as FGTS, on July 24, the presidential chief of staff Bolsonaroaid.”

Huawei is not restricted in Brazil, says VP Hamilton Mourao

“Huawei, a leader in next-generation 5G wireless technology, is barred from developing 5G networks in the United States over concerns about its ties to the government in Beijing and possible security threats.”

Chile reduces copper price projection for 2019 as China’s demand slows down

“In its second-quarterly report the Chilean Copper Commission (COCHILCO) also reduced its 2020 projection from US$3.08 to US$2.90 a pound, it said in a statement.”

No Rosy Outlook for Brazil’s Foreign Trade in 2019

“The Foreign Trade Association of Brazil (AEB) reported on Wednesday, July 17th, its revised estimates for the Brazilian trade balance in 2019, updating those made last December.”