Piva Advogados

The Official Gazette of the Union published today (January 14) LC 227/2026, which defines the scope of action of the IBS Management Committee, regulating the administrative process related to the tax, the distribution of its revenue to federal entities, and the Tax on Transfer Causa Mortis and Donation of Any Assets or Rights (ITCMD). The measure represents an essential step toward enabling the implementation of the Consumption Tax Reform, whose transition period will begin in 2026 and extend...

In recent years, there has been a significant increase in the number of Brazilians investing abroad, whether through global accounts offered by domestic banks, foreign brokerage firms, offshore companies, and trusts, or through real estate investments. In this scenario, inheritances, donations, and estate planning become essential and require close monitoring of legislative changes, the most recent decisions of the Federal Supreme Court and the Courts of Justice, and coordination between...

Brazil’s capital markets are going through a more cautious cycle. After the strong wave of IPOs in 2020 and 2021, B3 experienced a prolonged period without major new listings, alongside an increase in take-private transactions and corporate reorganizations. This scenario is not new: historically, IPO activity tends to rise when interest rates are lower and liquidity is abundant, and to slow when the cost of capital and risk aversion increase. From a business perspective, the central takeaway...