Assets abroad are regulated by the law 13254. Lawyers from Brazil can engage actively with lawyers in the diaspora through this channel. Ricardo Tosto is well pleased by this opportunity. The law which is widely referred to as the asset repatriation project came into effect in January 2016. It allows Brazilian assets and resources to be returned back to the country. The lawyers work hand in hand to come up with the necesarry documentation that make this possible.
Ricardo Tosto, a partner at Nelson and Associates firm, says that the law provides good ground for the exposure of local lawyers to the rest of the world. They get to interact with their compatriots from countries across the world. The regulation of assets laws, as it is known in other quarters, is not limited to only two countries. Legal processes and procedures can be effectively carried out in a host of nations simultaneously so long as the assets in question are from Brazil.
Congress was in no hurry to approve the project according to Ricardo Tosto. He had to lower both the income tax and the fines rate to 15% from the 17.5% that he had initially proposed. This occured after a series of discussions among members of the house who sought to standardize it.
The exchange rate on the other hand was fixed to 20%, which was its value in December 2014. Earlier reports had indicated that the Union had collected 30% of the assets. Ricardo Tosto clarified that this was not the case. This was occasioned by a difference in the exchange rate fom the time the proposal was made to the time the collection was implemented.
Ricardo Tosto who was a founding partner of Leite also weighed in on the provision for letting some offenders go scot-free. It only denies amnesty to drug traffickers, corrupt officials and smugglers. Crimes like tax evation and money laundry had the possibility of receiving acquittal.
Ricardo Tosto stated that there was need for the lawyersto streamline the process so that this wouldn’t be the case. Laws that would allow for the possibility of tracking down offenders and investigating their activities keenly so as to impose the correct penalties ought to be formulated by the partnership between the lawyers.
About Ricardo Tosto: www.youtube.com/watch?v=qc0MFA_hkFc