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1 week ago | 
bloomberglinea.com | Daniel Cancel |Martha Beck
Bloomberg — Itaú Unibanco Holding SA (ITUB), uno de los bancos más grandes de Latinoamérica, pagó un dividendo anual en marzo que entregó 1.100 millones de reales (US$186,8 millones) al clan multimillonario brasileño Moreira Salles. ¿Cuántos impuestos pagarán los descendientes del fundador de Unibanco por esta ganancia inesperada? Cero. Durante casi 30 años, Brasil ha sido uno de los pocos gobiernos que no grava los dividendos de las empresas con sede en el país.
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1 week ago | 
news.bloomberglaw.com | Daniel Cancel |Martha Beck
Itaú Unibanco Holding SA, one of Latin America’s largest banks, paid an annual dividend in March that handed 1.1 billion reais ($186.8 million) to Brazil’s billionaire Moreira Salles clan. How much tax will the descendants of Unibanco’s founder pay on their windfall? Zero. For almost 30 years, Brazil has been one of the few governments that doesn’t tax the dividends of companies based in the country.
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1 week ago | 
news.bloomberglaw.com | Cristiane Lucchesi |Rachel Gamarski |Martha Beck
Individual investors are trying to dump Banco Master SA bonds, pushing yields higher and making it tougher for the struggling lender to raise cash needed for short-term obligations. A total of more than 10 billion reais ($1.7 billion) in Banco Master time deposit certificates, called CDBs, are up for sale on retail online platforms at XP Inc. and Banco BTG Pactual SA, according to data compiled by Bloomberg.
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2 weeks ago | 
news.bloombergtax.com | Martha Beck |Barbara Nascimento |Cristiane Lucchesi
The proposed sale of Banco Master SA, a Brazilian lender whose portfolio has surged an average of 86% a year, has caught the attention of local authorities, who say they’re investigating both the deal and how the company was able to expand so rapidly. The probes by regulators and federal prosecutors are still preliminary and could last several months. But they could ultimately block or delay the planned purchase of Master by BRB SA, a bank owned by Brazil’s capital city.
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2 weeks ago | 
news.bloomberglaw.com | Martha Beck |Barbara Nascimento |Cristiane Lucchesi
The proposed sale of Banco Master SA, a Brazilian lender whose portfolio has surged an average of 86% a year, has caught the attention of local authorities, who say they’re investigating both the deal and how the company was able to expand so rapidly. The probes by regulators and federal prosecutors are still preliminary and could last several months. But they could ultimately block or delay the planned purchase of Master by BRB SA, a bank owned by Brazil’s capital city.
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2 weeks ago | 
bloomberglinea.com | Martha Beck |Rachel Gamarski
Bloomberg — El presidente del Banco Central de Brasil, Gabriel Galipolo, se reunió con los principales banqueros durante este fin de semana en su intento de mitigar el impacto de la venta de Banco Master SA, un banco más pequeño que había crecido rápidamente con el respaldo de la red de seguridad financiera del país. Los funcionarios discutieron la gobernanza del fondo de seguro de depósitos, conocido como FGC, así como el destino de Banco Master, según personas con conocimiento del asunto.
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3 weeks ago | 
bloomberglinea.com | Travis Waldron |Martha Beck
Bloomberg — La popularidad del presidente de Brasil, Luiz Inácio Lula da Silva, se desplomó a mínimos históricos debido en gran parte a los desafíos económicos que asolan a los líderes de todo el mundo y no a sus propios errores políticos, dijo el ministro de Finanzas, Fernando Haddad, en una entrevista. La aceleración de la inflación y la ralentización del crecimiento han pesado sobre Lula, minando la confianza de los inversores y de los brasileños de a pie en los últimos meses.
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1 month ago | 
news.bloombergtax.com | Martha Beck |Simone Iglesias
Brazil’s government presented a long-awaited proposal to exempt workers with monthly salaries up to 5,000 reais ($879) from income taxes Tuesday, as President Luiz Inacio Lula da Silva grapples with falling support. The relief will cost public coffers 27 billion reais annually, Finance Minister Fernando Haddad told reporters in Brasilia on Monday.The government will compensate for that revenue loss by raising taxes on incomes above 1 million reais a year, including dividends.
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1 month ago | 
news.bloomberglaw.com | Clarice Couto |Martha Beck
Shares of Brazil’s JBS SA jumped the most in five years as the company moves closer to a long-awaited share listing in New York after a deal with its second-biggest shareholder. The equity holding arm of Brazil’s state-owned lender BNDES, which owns almost 21% of JBS, will refrain from voting on the plan at the company’s upcoming board meeting, removing the biggest hurdle for JBS’s listing, according to a regulatory filing.
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1 month ago | 
news.bloomberglaw.com | Clarice Couto |Martha Beck
BNDES will abstain from voting in an upcoming board meetingBrazil lender previously opposed plan that included a listingBrazil’s JBS SA is moving closer to a long-awaited share listing in New York after a deal with its second-biggest shareholder. The equity holding arm of Brazil’s state-owned lender BNDES, which owns almost 21% of JBS, will refrain from voting on the plan at the company’s upcoming board meeting, removing the biggest hurdle for JBS’s listing, according to a regulatory filing.
