Ricardo Tosto in a recent event talked about Law 13,254 which entails the regularisation of assets that are out of the state. This law facilitates the exchange of lawyers based in Brazil with those lawyers based abroad. The bill is commonly referred to the project for the return of assets as well as regularising this asset out of the country. This law was dated on the 13th of January, 2016. This project has facilitated the repatriation of resources for the residents of Brazil possible.
Ricardo Tosto reveals that this project has paved the way for the partnership of the local lawyers and the foreign ones. This facilitates the processes as well as procedures from the two partnering nations or more. He reveals the project must involve two countries which include the Brazilian government and another state.
Ricardo Tosto admits that this process of repatriation had undergone a steep path before it was accepted in the Brazilian congress. He remembers the initial tax rate and fines being reduced to fifteen percent for both aspects to be approved. The initial standards that were proposed included a tax rate and penalty of 17.5%.
Ricardo Tosto insists on the importance of this partnership between the local and foreign lawyers to uphold the law as well as identify hidden assets of the residents. This partnership will help in the investigation towards the reasons for hiding the assets from the government. This partnership also shows the power of the government towards these issues. He reminds that it is fraudulent to hide assets and says the initiative is a way to root out this norm. This partnership will not only root out this issue but also stop it eventually.
Ricardo Tosto is the co-founder as well as a managing partner at a law firm called Leite, Tosto and Barros Advogados Associados. He is a successful businessman in the sector of law. He has represented various companies in business qualms and litigations. He has been part and parcel of amendments as well as the creation of regulations in Brazil that are of high economic merit to the country. He oversees the process of various national causes through his firm.
For details: www.youtube.com/watch?v=qc0MFA_hkFc