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July 19, 2021

Tuesday, 27 July 2021 | Brazil: Proposed tax reform could significantly impact corporations with operations in Brazil (1 pm ET)

The second phase of Brazil’s comprehensive tax reform proposes significant changes to the corporate income tax system. These changes, which were part of a bill introduced in late June, include reducing the corporate income tax rate, establishing a withholding tax on dividends and strengthening the rules on the disguised distribution of profits.

If approved this year, the proposed changes will be effective as of January 2022, leaving taxpayers limited time to prepare.

Please join our panelists for a discussion of the proposed changes. Topics to be discussed include:

  • Proposed changes to the current corporate income tax system

  • Potential impacts on corporate acquisitions and restructurings

  • Possible effects on taxation of financial and capital markets

  • Impacts on US corporations doing business in Brazil

  • Actions to consider taking before year-end

Date: Tuesday, 27 July 2021

Time: 1:00–2:00 p.m. EDT New York; 10:00–11:00 a.m. PDT Los Angeles

Registration: Register for this event.


  • Gustavo Carmona, Partner, International Tax and Transaction Services Brazil Leader, Ernst & Young Assessoria Empresarial Ltda.

  • Carmen Encarnacion, Principal, International Tax and Transaction Services, Ernst & Young LLP

  • Tiago Aguiar, Senior Manager, International Tax and Transaction Services, Ernst & Young Assessoria Empresarial Ltda.

  • Aline Milla, Senior Manager, International Tax and Transaction Services, Ernst & Young Auditores Independentes S.S.

  • Jose Massari, Senior Manager, Financial Services, International Tax and Transaction Services, Ernst & Young LLP (US)


  • Ana Mingramm, Principal, Global Tax Desk Network Leader, Ernst & Young LLP (US)

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objective: Identify the changes and possible effects of the proposed Brazil tax reform. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

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The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.


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