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Braziladoptsonlinepledge

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  • 1. World eBusiness Law Report Página 1 de 1 World eBusiness Law Report This printed article may not be photocopied and is for the exclusive use of Ms Eríca Aoki . For a multi-user licence piease contact Alan Mowat on +44 20 7234 0606. Brazii Aoki Advogados Associados Brazil adopts online pledge system to enforce court orders The Central Bank of Brazil and the Superior Labour Court have signed an accord to allow the online management of bank accounts for the purposes of court disputes. The Online Pledge System will enable the Justice Department to block the bank accounts of citizens who are in debt to the State Treasury. The accord links the labour courts, the Central Bank and commercial banks. In relevant cases, the judges will issue a block order, which will be sent electronically to the Central Bank and from there to the commercial banks. Upon receipt of the order, the commercial bank will block the exact amount of the debt in the c1ients account. Once this is done, the commercial bank informs (i) the branch where the debtors bank account is held, and (ii) the Central Bank. The whole operation takes only a few minutes. Each of the regional courts has its own password to access the system. One-hundred-and- sixty companies have already registered with the system, and 58 companies have registered their bank accounts as those that are capable of being blocked by the system. By registering, companies that have labour debts can avoid multiple bank accounts being blocked. Companies can register on the Superior Labour Courts website by completing an online formo Within tive days of completing the form they must provide: • documents with proof of ali their bank accounts; • the companys tax number; and • the tax number of the person responsible for providing the information. Erica Aoki, Aoki e Farios Advogados Associados, São Paulo © Copyright 2001 - 2004 Globe Business Publishing Ltdhttp://www.worldebusinesslawreport.com/Artic1e/printversion.aspx?r=2976&c=43166 14/6/2004
  • 2. Página 1 de 1 Tr" PíI, k" d ,I rr dY l"Jt b". phoL .cp,ed ç .1d ~. for t,·8 E"xc!l,."i"8 ,I . .;..cf Ms [.ICd Ajki. !-CJr é1 1" tL er ··~o"r"t: p ~asE Cortac! jlqn v1o..• or ~44 20 7.:34 06U Vpt Jun 042 03· Braz ,-cThe Brazilian Congress has approved Provisory Measure 100/02, which provides that industrialproduct tax will not be charged on microprocessors worth less than R11 ,000 in 2003. The proposalforesees that after 2003, the amount of tax levied will continue to be reduced, by 95% in 2004 and2005, and by 70% between 2006 and 2009 (when the tax relief will cease).tn order to be abte to take advantage of this incentive, companies will need to (i) meet certaintechnical and production requirements, and (ii) invest at least 2.5% of their net domestic revenue inresearch and development.This provisory measure amends Laws 8248/91, 8387/91 and 10176/01, ali ofwhich oversee thecompetitiveness of the information technology sector. The government has a history of using taxincentives to stimulate growth in the IT sector, granting tax relieffor computers and electronic goodsin 2000.Erica Aoki, Aoki e Farias Advogados Associados, Sao Paulo© Copyright 2004 - 2008Globe Business Publishing ltd

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