quinta-feira, 12 de novembro de 2015

House Passes Bill to cash repatriation undeclared

Special session of the House of Representatives: project was approved by 230 votes to 213 (Gustavo Lima / House of Representatives)

The House of Representatives approved late on Wednesday by 230 votes to 213 the bill authorizing the repatriation of undeclared money deposited abroad and tax amnesty crimes. There were seven abstentions. The text now goes to the Senate. The Executive's project is one of the hopes for raising revenue. The opposition was against the PL 2960/15, claiming that the text sponsored by the government benefits criminals.

After the project text-based voting, the full House approved an amendment prohibiting politicians and their relatives to join the resource repatriation program. The amendment, tabled by the PSDB, passed by 351 votes in favor, 48 against and 5 abstentions.

Repatriation - The Executive estimates that there are about 400 billion reais of Brazilians who can be repatriated and taxed at 30% of what is intended to bring to Brazil with fine and rate of income tax, generating revenue through the Special Regime regularization Exchange and Tax (RERCT). In the original proposal, the government provided a tax rate of 35% and estimated that could be collected between 100 billion and 150 billion reais. The funds will be directed to states and municipalities through holding funds, as the substitute for the rapporteur, Manoel Junior (PMDB-PB).

The project divided the plenary. The ruling argue that there will be amnesty for crimes related to tax evasion, tax evasion and money laundering, but the opposition says there are no mechanisms to prevent money from crimes such as drug trafficking should be legalized. The project provides that only lawful source of funds are accepted into the system. Another criticism is that the declaration of the money can not be the basis for the IRS or the public prosecutor to investigate the source of funds. "Suffice a statement to certify that the action is lawful" asked Congressman Alessandro Molon (Network-RJ).

"The prosecution of that country said that immorality is this project, suffice it to see the indecency of the House is voting," said Deputy Roberto Freire (PPS-SP). The government leader, José Guimarães (PT-CE), said the opposition tries to derail the government. "We will not compromise ethics," he said.

List of amnestied crimes through taxation

Tax evasion

Money laundry

Crime against the tax order

False identity to use foreign exchange transaction

Tax evasion

Evasion of social security contributions

Embezzlement

Falsification of public document

Forgery of private documents