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INSURANCE AND OPEN SUPPLEMENTARY SOCIAL SECURITY ................................................... 1
1) Private Insurance Superintendence - SUSEP ADMINISTRATIVE RULE No. 7070, OF 3/2/2018
2) National Land Transportation Agency - ANTT ADMINISTRATIVE RULE No. 006, DE 2/28/2018
3) SUSEP STATEMENT No. 205, OF 3/14/2018
4) Inter-Ministry Management Committee of the Rural Insurance - CGSR RESOLUTION No. 61, OF 3/15/2018
FINANCIAL MARKET, CAPITAL MARKET AND OTHERS .............................................................. 4
1) DECREE No. 9319, OF 3/21/2018
INFORMATION REPORT MARCH 2018
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados
2) Company Registration and Integration Department - DREI NORMATIVE INSTRUCTION No. 45, OF 3/7/2018
3) Brazilian Central Bank - BACEN CIRCULAR No. 3883, OF 3/7/2018
4) BRAZILIAN CENTRAL BANK PUBLISHES NEW RULES ON CARDS
5) CIRCULAR No. 3887, OF 3/26/2018
6) CIRCULAR No. 3886, OF 3/26/2018
7) BACEN CIRCULAR No. 3885, OF 3/26/2018
8) BACEN CIRCULAR LETTER No. 3869, of 3/19/2018
9) INITIAL COIN OFFERINGS (ICOs) (MARCH 7)
10) Council for Financial Activities Control - COAF PUBLISHES 2017 ACTIVITIES REPORT
11) CVM PUBLISHES REPORT ON SANCTION ACTIVITY
12) LAW 13.640, OF 3/26/2017
CLOSED SUPPLEMENTARY SOCIAL SECURITY ......................................................................... 11
1) LAW 16675, OF 3/13/2017
2) Supplementary Social Security Superintendence - PREVIC ADMINISTRATIVE RULE No. 188, OF 3/7/2018
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados
3) PREVIC ADMINISTRATIVE RULE No. 169, OF 2/27/2018
4) PREVIC SIGNS TECHNICAL COOPERATION AGREEMENT WITH CVM
5) PREVIC SIGNS TECHNICAL COOPERATION AGREEMENT WITH TCU
6) PREVIC INTENDS TO HOLD MANAGERS OF PENSION FUNDS RESPONSIBLE
7) RESOLUTION ON TRANSFER OF PLAN MANAGEMENT BETWEEN CLOSED SUPPLEMENTARY SOCIAL SECURITY ENTITIES
HEALTH ................................................................................................................................... 17
1) Federal Medicine Council - CFM RESOLUTION No. 2169
TAX ......................................................................................................................................... 17
1) DECREE No. 9297, OF 3/1/2018
2) Federal Revenue Office - RFB NORMATIVE INSTRUCTION No. 1797, OF 3/9/2018
3) RFB NORMATIVE INSTRUCTION No. 1801, OF 3/26/2018
4) Inspection Coordination Office - COFIS EXECUTIVE DECLARATORY ACT No. 18, OF 3/9/2018
5) Inspection Coordination Office - COFIS EXECUTIVE DECLARATORY ACT No. 023, OF 3/16/2018
6) RFB INTERPRETATIVE DECLARATORY ACT No. 2, OF 3/22/2018
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados
7) ANSWER TO INQUIRY TO TAX COORDINATION OFFICE - COSIT No. 599, OF 12/21/2017
8) ANSWER TO INQUIRY No. 2001, OF 2/21/2018
9) ANSWER TO INQUIRY No. 7006, OF 2/15/2018
10) ANSWER TO COSIT INQUIRY No. 010, OF 3/8/2018
11) GOVERNMENT PROPOSES UNIFICATION OF PIS AND COFINS
12) HEALTH PLANS QUESTION THE COLLECTION OF THE SERVICES TAX (ISS)
PARTNERS OF THE FIRM AND RESPECTIVE AREAS................................................................25
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
INSURANCE AND OPEN SUPPLEMENTARY SOCIAL
SECURITY
1) Private Insurance Superintendence - SUSEP
ADMINISTRATIVE RULE No. 7070, OF 3/2/2018
Under SUSEP Administrative Rule no. 7070, of March 2,
2018, published ton March 7, in the Federal Official Journal
(DOU), the Private Insurance Superintendence set up a
special commission to discuss the current model of
Compulsory Insurance against Personal Injury caused by
Land Vehicles (DPVAT). SUSEP made such decision after
the internal work groups, created in 2015 and 2016, sent it
proposals to discuss issues related to the DPVAT.
The special commission will be composed of the
Superintendent of SUSEP, and one representative of each
of the following entities: the Solvency Board, the Conduct
Supervision Board, the Private Insurance Organization
System board, the Federal Prosecution Office for SUSEP;
the Economic Policy Department (SPE) of the Ministry of
Finance; the National Consumer Protection Department
(Senacon); the National Confederation of Insurers (CNseg);
the National (CNseg); the National Federation of General
Insurance (FenSeg); the National Federation of Insurance
Brokers (Fenacor); the National Insurance School; the
Education and Research Institute; and Seguradora Líder
(insurer).
Once the work is completed, a proposal for a new model
of DPVAT will be submitted. The first meeting of the Special
Commission was held on March 8.
The Commission is already sorting out options for a new
model of DPVAT. The first proposal for changes will be sent
to the National Council of Private Insurance (CNSP) until
April 16.
In addition to the replacement of the DPVAT for a free-
competition model named Compulsory Insurance against
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
Traffic Accidents (Soat) – provided in the bill introduced by
representative Lucas Vergilio (SD political party - Goiás
State) –, the commission is evaluating other measures for
the product maintenance.
In addition to the Soat, SUSEP is analyzing the return of the
former Compulsory Civil Liability Insurance for Land
Vehicles (Recovat) and the possibility of the entity itself to
determine the administrative and operating expenses in
order for the price of the product to be fair.
It is essential that those building the new model take into
consideration the specificities of the DPVAT, which covers
pecuniary damages and injuries to victims of accidents
involving automotive vehicles in the Brazilian territory.
We point out that several private entities and the
insurance market are participating in the building of this
new model, and this a very positive fact, especially in view
that this is a relevant and sensible issue.
The administrative rule may be checked here.
2) National Land Transportation Agency - ANTT
ADMINISTRATIVE RULE No. 006, DE 2/28/2018
Establishes an internal administrative procedure for the
execution of contractual guarantee in the performance
bond modality presented by the permitees of interstate
and semi-urban public road transportation of passengers.
3) SUSEP STATEMENT No. 205, OF 3/14/2018
On March 14, SUSEP approved the Internal Regulation of
the Direct Prudential Supervision Priority Committee
[Comitê de Priorização da Supervisão Prudencial Direta –
COPRI], set up by SUSEP Administrative Rule no. 6918, of
June 14, 2017.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
According to its Internal Regulation, the COPRI is
responsible for defining the insurers, capitalization
companies, local reinsurers, and open supplementary
social security entities, hereinafter named supervised
companies, which will be included in the proposal for the
prudential inspection plan to be submitted to the
Managing Board for approval.
This measure seems to be a positive element to assure the
quality of SUSEP’s governance.
The statement is available here.
4) Inter-Ministry Management Committee of the Rural
Insurance - CGSR RESOLUTION No. 61, OF 3/15/2018
The CGSR approved the Experimental Private Supplement
Project for the corn and soybean culture - 1st crop, within
the ambit of the Subsidy Program for the Rural Insurance
Premium - PSR, in the year of 2018.
The experimental project promotes the contracting of
rural insurance by the rural producer, with the
participation of a private agent, for a same insured object,
and the limits to the premium sharing are defined
according to par. 5 of art. 1 and other criteria set in the
Resolution.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
FINANCIAL MARKET, CAPITAL MARKET AND
OTHERS
1) DECREE No. 9319, OF 3/21/2018
Institutes the National System for Digital Transformation
and establishes the governance structure for the
implementation of the Brazilian Strategy for the Digital
Transformation (E-Digital).
The E-Digital is intended to harmonize the initiatives of the
federal Executive Branch related to the digital
environment to benefit from the potential of the digital
technologies to foster a sustainable, inclusive economic
and social development, with innovation, by increasing
competition and productivity, as well as the employment
and income levels in Brazil.
The goals to be achieved include (i) integration of
instruments to promote research, development and
innovation - RD&I, as well as the research infrastructures
to develop the digital technologies; (ii) enhancement of the
legal landmarks of science, technology and information -
ST&I; and, (iii) use of the acquisition power to encourage
the development of innovative solutions based on digital
technologies.
To read the text of the decree, please click here.
2) Company Registration and Integration Department - DREI NORMATIVE INSTRUCTION No.
45, OF 3/7/2018
Provides for the effects of the revocation of art. 72 of
Supplementary Law no. 123, of December 14, 2006, on the
trade name of small-size companies and revokes art. 5, III,
"e" and "f", and art. 14 of DREI Normative Instruction no.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
15, of December 5, 2013 as well as art. 2, sole paragraph,
of DREI Normative Instruction no. 36, of March 3, 2017.
One of the amendments introduced by this Normative
Instruction is that the designation ME (Microempresa -
Micro Company) and EPP (Empresa de Pequeno Porte -
Small-Size Company) can no longer be registered.
3) Brazilian Central Bank - BACEN CIRCULAR No. 3883, OF 3/7/2018
Amends Circular no. 3689, of December 16, 2013, which
regulates, within the ambit of BACEN, the provisions on
foreign capital in Brazil and Brazilian capital abroad, and
Circular no. 3690, of December 16, 2013, which provides
for the classification of transactions in the foreign
exchange market. The circular is available here.
4) BRAZILIAN CENTRAL BANK PUBLISHES NEW RULES ON CARDS
The Central Bank published on March 3, within the ambit
of Agenda BC+, pilares SFN Mais Eficiente e Mais Cidadania
Financeira, three circulars (3885, 3886, and 3887) and
three notices for public inquiry related to Payment
Agreements and Institutions, seeking to increase the use of
electronic instruments in Brazil, including the debit card,
increasing the scale of use, generating potential, and
reducing the users’ costs; the Central Bank also intends to
increase the incentive to innovation and to guarantee
access to the infrastructures available to entrants; to
reinforce the governance in the market, through a better
representativeness of the participants and a regulation and
supervision focused on the institutions that generate
higher risks to the system. The Central Bank also intends to
stimulate the offer of products to the consumer and their
differentiation, with greater transparency of costs,
stimulating the differentiation between payment on
demand and on credit, and to promote the use of the debit
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
card as a payment instrument and the credit card as a
credit instrument.
In 2013, Law no. 12865 granted the Central Bank
jurisdiction over Payment Agreements and Institutions to
guarantee the market security and efficiency. Since them,
new participants and new products emerged, and the
competition in the accreditation and issuance markets
increased, among other advancements.
The public inquiries will produce effects on the market
structure and governance. As these as structural aspects,
the Central Bank will hear the opinion of the interested
parties
Notice 61/2018 proposes the establishment of advisory
committees for governance within the ambit of the card
brands, with the participation of the card issuers,
accreditation institutions and independent members,
given that such commissions are an adequate environment
to discuss issues such as price structure, access to and
treatment of sensitive information, and risk sharing and
management. The Central Bank intends to obtain the
market evaluation of the impact of the potential measure
on the decision-making process of the card brands and on
the market effectiveness and security as well as the market
evaluation of the suggestions about the formation and
operation rules of the Committee.
The public inquiry announced in the notice 62/2018
addresses the proposal to convert those sub-accreditation
companies with average annual turnover higher than R$
500 million to accreditation companies. The inquiry seeks
the evaluation of how this potential measure would
balance security, effectiveness and incentive to innovation
and how it makes the regulation more proportional to the
risks posed by the agents.
Finally, notice 63/2018 proposes that the inter-operation,
performed under a closed agreement or an open
agreement, should necessarily be carried out according to
rules valid for all. The purpose is to hear the opinion of the
society and, in particular, the market participants about
how that potential measure would balance the
diversification of business models and the innovation
related to closed agreements and its effects on the
competition and equal treatment to the participants in
open agreements.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
5) CIRCULAR No. 3887, OF 3/26/2018
Establishes the maximum limits to the exchange tariff for
domestic payment agreements on purchase and demand
deposit account.
Aiming at reducing the cost of the debit card for the trade
sector, Circular 3887 will limit from October 1, 2018 the
average exchange tariff of debit cards to 0.50% of the
transaction amount and the maximum tariff to 0.80% of
the transaction amount. The exchange tariff is paid by the
accreditation company of the commercial establishment to
the issuer of the debit card to bearer and determines the
price charged by the commercial establishment (discount
fee). This specific tariff is regulated internationally.
In the last eight years, the exchange tariff of debit cards
increased from 0.79% to 0.82% of the transaction, while
the discount fee dropped from 1.60% to 1.45% of the
transaction. To ensure additional reductions in these
tariffs, the Central Bank decided to limit the level of the
exchange tariff.
This measure is expected to cause the accreditation
company to transfer the reduction to the commercial
establishment, which, in turn, will transfer it to the
consumer, by virtue of the competition and also the
possibility of price differentiation.
With lower costs, the debit cards will be more competitive
in regard to other means of payment, such as money in
cash, electronic transfers and credit cards, and will be used
more extensively.
The extensive use of debit cards for payments and the
credit cards as a credit instruments has a potential to
reduce crossed subsidies.
More transparent prices for the end user is essential for
the society as a whole to obtain gains with a better use of
the payment instruments. The Central Bank will also
develop communication and financial education actions in
this regard.
The circular is available here.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
6) CIRCULAR No. 3886, OF 3/26/2018
Amends Circular no. 3682, of November 4, 2013, which
regulates payment services provision within the ambit of
the agreements of the Brazilian Payment System (SPB) and
the Regulation attached to it.
Circular no. 3886 simplifies and expedites the
authorization process for payment agreements, and allows
the market to develop dynamically, with more regulatory
certainty and clearer rules, without prejudice to the its
security and effectiveness. The circular also provides that
the centralized clearance for sub-accreditation companies
expected for September 28 will be mandatory only to
those with an annual turnover above R$ 500 million, which
represent 90% of this market.
Another amendment provided in the text removes from
the scope of the monetary authority the payment
agreements deriving from governmental benefit
programs, including the meal ticket. As these programs are
already regulated by other government entities, the
purpose is to prevent a higher regulatory cost imposed by
a double regulation.
The circular may be accessed here.
7) BACEN CIRCULAR No. 3885, OF 3/26/2018
Circular 3885, of 3/26/2018, sets the requirements and
procedures for the operation authorization, control
change and restructuring, cancellation of the operation
authorization and conditions for holding management
positions of payment institutions and authorization for
payment services provision by financial institutions and
other institutions authorized by the Brazilian Central Bank
to operate.
The Circular also establishes that new companies
operating as issuers of electronic currency, issuers of post-
paid payment instruments, or accreditation companies will
not need prior authorization of the Central Bank. The
authorization of the monetary authority will be required
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
only in cases of annual turnover above R$ 500 million or
with, at least, R$ 50 million of funds kept in payment
accounts.
Among other measures, Circular 3886 reduces the
regulatory costs of the card companies. Expected for
September 28, the centralized clearance for sub-
accreditation companies will be mandatory only to those
with an annual turnover above R$ 500 million. According
to the Central Bank, such companies represent 90% of this
market. Smaller companies will not be required to join the
centralized clearance.
Another change is that one that removes from the scope
of the Central Bank the regulation of the systems for
payments of governmental benefit programs, such as the
meal program.
8) BACEN CIRCULAR LETTER No. 3869, of 3/19/2018
Amends and consolidates the procedures to enter
information in the Credit Information System [Sistema de
Informações de Créditos - SCR], addressed in Circular no.
3870, of December 19, 2017.
This letter circular may be accessed here.
9) INITIAL COIN OFFERINGS (ICOs) (MARCH 7)
On March 7, the Brazilian Securities Commission (CVM)
issued an official communication clarifying that it does not
recommend nor ratify offers of virtual assets, known as
ICOs.
In addition, CVM issued a series of recommendations
urging the investors to be attentive to the risks related to
these investments, such as frauds, financial pyramids,
cybernetic risks, among others.
The full communication is available here.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
10) Council for Financial Activities Control - COAF PUBLISHES 2017
ACTIVITIES REPORT
COAF published on March 13 its 2017 Activities Report. The
document reports the entities’ activities throughout the
past year and the main results achieved.
COAF’s activities have been characterized as consistent,
with stable leaderships and a permanent dialog with the
stakeholders (Prosecution Office, polices, Central Bank,
CVM, SUSEP, and others).
The report is available on COAF website.
11) CVM PUBLISHES REPORT ON SANCTION ACTIVITY
The Brazilian Securities Commission (CVM) published on
3/27/2018 a new issue of the Report on Sanction Activity.
The document was created to consolidate the information
on CVM’s sanction activities, seeking to present the results
of such activities in a clear and objective way.
The report is part of CVM’s strategic activities, redefined
by the planning carried out in 2013, which contains its
goals for the future, strategic goals and priorities to be
fulfilled until 2023.
The report is available here.
12) LAW 13.640, OF 3/26/2017
Amends Law no. 23587, of January 3, 2012, to regulate the
individual paid transportation of passengers. This law
regulates the transportation services by applications such
as Uber, Cabify, and 99 POP.
According to the new law, the cities and the Federal District
have exclusive jurisdiction to regulate and inspect the
transportation services. They will responsible for collecting
municipal taxes and requiring the insurance covering
Personal Accidents of Passengers (APP), the Compulsory
Insurance against Personal Injury caused by Land Vehicles
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
(DPVAT), and the driver’s enrollment in the National
Institute of Social Security (INSS) .
The driver is required to have a Driver’s License [Carteira
Nacional de Habilitação] - category B or above, informing
that the driver is compensated for the activity, and the
vehicle must fulfill the requirements of maximum age and
have the characteristics required by the traffic authority
and the government as well as a valid Certificate of
Registration and Licensing; the driver must also present a
Clearance Certificate of Criminal Record. The activity of any
driver that fails to comply with such rules will be
considered illegal transportation of passengers.
The driver providing transportation service by application
is not required to obtain prior authorization from the
municipal government. Also, the driver is not required to
be the owner, fiduciary owner or lessee of the vehicle, and
red plate is not required as well.
CLOSED SUPPLEMENTARY SOCIAL SECURITY
1) LAW 16675, OF 3/13/2017
The Governor of the State of São Paulo Geraldo Alckmin
sanctioned law 16675, whereby the state civil servants
whose salary is above the INSS ceiling of R$ 5,645.80 will
be automatically enrolled in the Supplementary Social
Security Foundation of the State of São Paulo (SP-
PREVCOM) at the time they start to work.
The changes will be included in the regulation of the
PREVCOM RP plan and submitted to the National
Supplementary Social Security Superintendence
[Superintendência Nacional de Previdência Complementar
- Previc]. Upon the approval of such federal entity, the
changes will be applied to all new servants approved in a
civil-service examination.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
This new rule amends some articles of the legislation that
instituted the state supplementary social security regime
seeking to simplify the access to the benefit. As from this
change, the adhesion will take place at the time the servant
assumes a position linked to the Proper Social Security
Regime [Regime Próprio de Previdência Social - RPPS]. This
legal provision also establishes a 90-day period for the
servant to decide if he/she will participated in the plan. In
the event of cancellation, the contributions will be
reimbursed adjusted for inflation.
The law may be accessed here.
2) Supplementary Social Security Superintendence - PREVIC
ADMINISTRATIVE RULE No. 188, OF 3/7/2018
Previc published Administrative Rule no. 188, of March 7,
2018, which provides for the List of Qualified Managers of
Closed Supplementary Social Security Entities, as
determined by Instruction no. 6/2017. In February, 61
qualifications were granted.
Previc instructs the entities to use the forms available on
its website, as the documents are constantly updated.
The list of qualified managers may be checked here.
3) PREVIC ADMINISTRATIVE RULE No. 169, OF 2/27/2018
Regulates the procedure for the acknowledgment of
independent certifying institutions for the purposes of
qualification.
According to the administrative rule, the Licensing Board
(DILIC), will be responsible for analyzing the applications
for acknowledgment of technical capacity for the purpose
of qualification of managers, and, among other
requirements, only the certificates issued by certifying
institutions with expertise in issuance, custody, control and
renewal of technical certificates will be acknowledged.
The administrative rule is available here.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
4) PREVIC SIGNS TECHNICAL COOPERATION AGREEMENT WITH
CVM
The Brazilian Securities Commission (CVM) and the
National Supplementary Social Security Superintendence
(Previc) signed on 3/13/2018 a Technical Cooperation
Agreement for exchange of information and inspection
activities. This initiative expands the scope of the previous
agreement, signed in 2005, to improve the joint activities
of these supervising entities.
The Agreement governance will be incumbent on a
Commission composed of up to five representatives of
each institution, appointed, respectively, by the Collective
Board of Previc e and the Collective Board of CVM.
This text of the agreement may be accessed here.
5) PREVIC SIGNS TECHNICAL COOPERATION AGREEMENT
WITH TCU
The Accounting Court (TCU) and Previc signed on
3/15/2018, a Technical Cooperation Agreement seeking
reciprocate exchange of knowledge, information and
databases of the supplementary social security system.
The agreement also provides for joint studies and analyses
and cooperation in monitoring and inspection actions, as
well as coordinated actions for the organizational
development and rationalization of processes intended to
reduce regulatory, administrative and operating costs.
The text of the agreement may be accessed here.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
6) PREVIC INTENDS TO HOLD MANAGERS OF PENSION FUNDS
RESPONSIBLE
Previc contemplates to hold managers, consultants and
member of committees of pension funds responsible in
cases of fraud and poor management. The regulatory
entity opened up an inquiry directed to some market
agents about the reform of Resolution 3792/2009, which
deals with investments of pension funds. The change
requires the approval of the National Monetary Council
(CMN).
In its proposal, Previc included items related to conflict of
interest and suggests that the managers, consultants, and
members of committees should be held responsible; these
items are not provided for in the current legislations and
are in charge of the CVM.
7) RESOLUTION ON TRANSFER OF PLAN MANAGEMENT BETWEEN
CLOSED SUPPLEMENTARY SOCIAL SECURITY ENTITIES
After six months under legal evaluation by the Office of the
Counsel to the Federal Treasury, the Resolution No. 25
approved by the National Council for Supplementary Social
Security (CNPC) was published in the Federal Official
Journal of 4/3/2018; this resolution regulates the transfer
of benefit plans between closed supplementary social
security entities (EFPCs) approved by the National
Supplementary Social Security Superintendence (PREVIC).
In fact, for a long time such transfers, provided in article 33
of Supplementary Law no. 109/2001, have been approved
by PREVIC through procedures which were consolidated
based on the experience accumulated in the last years.
It could not be different since such transfers are a
necessary and widely used measure to reorganize social
security programs, which, in general, result from corporate
operations carried out in the sponsors. In sum, this type of
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
process results in the transfer of a plan from an EFPC para
another, but without changing the benefit rules (in such
operations, only aspects of the plan regulation arising from
the operation itself may be adjusted).
Thus, the rule consolidates procedures that have already
been adopted, but it introduces some innovations, among
which, we cite the following:
• It is clear now that the operation initiative is a
prerogative of the sponsor, which must officially notify
the original entity of its intention and provide a
minimum of information. A relevant innovation is the
need to provide, in the initial notification, information
comparing the entity of origin and the entity of
destination as to the administrative funding and the
investment expenses, as well as the governance
structures, especially the representation of the
sponsors and the participants. This initiative may be
undertaken by the entity of origin but, anyway, it will
depend on the sponsor to define the essential points
(the new management entity and the comparisons).
• The entity of origin must notify the participants in the
plan to be transferred of the operation, and inform
them on the new managing entity and the comparisons
referred to in the previous item. This communication
must be made within 10 business days from the
sponsor’s communication.
• Another important innovation is the need to prepare a
transfer plan which will be agreed by the two entities
involved and the sponsor, including, the schedule, the
transfer guidelines and how the documents will be
available. This plan must be finished within at least 60
days from the initial communication of the sponsor.
• The process must be filed with PREVIC by the entity of
origin within 180 days from the date of the initial
communication of the sponsor and may be extended
for an equal period, upon the parties’ agreement.
• Another relevant item is that a summary of the
instrument of transfer entered into by the parties, with
the clauses and condition of the operation, must be
disclosed to the participants 30 days before the process
is filed with PREVIC.
• The bylaws of the recipient entity, in turn, must be
made available to the participants within at least 30
days from the effective transfer.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
• The financial assets will be transferred to the entity of
destination at their book value. In the transition period
(from the sponsor’s communication to the effective
operation), the assets to be transferred that have the
maturity date set cannot be disposed of, reevaluated
nor can their pricing criteria be changed. Accordingly,
the negotiation of assets between plans is barred
during this period.
Overview of the periods
Sponsor’s communication / Notice on the operation to the
participants / Disclosure of the instrument summary to the
participants / Process filing with PREVIS / Availability of the bylaws
to the participants
This is a summary of the main innovations introduced by
CNPC Resolution no. 25/2018, and its full text may be
accessed here.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
HEALTH
1) Federal Medicine Council - CFM RESOLUTION No. 2169
Regulates the responsibilities of doctors and laboratories
for Pathology diagnosis procedures and sets technical rules
for the conservation and transportation of biological
material in regard to such procedures. It also regulates the
medical conducts based on positive cytopathological
reports and the medical audit of such tests.
According to the normative resolution, multidisciplinary
laboratories that conduct tests related to more than one
medical specialty, may have as their technical director a
specialist doctor licensed by the Regional Medicine Council
(CRM) of the jurisdiction of the laboratory. The doctor does
not need to be a pathologist, but the director’s specialty
must correspond to the services offered.
TAX
1) DECREE No. 9297, OF 3/1/2018
Amends Decree no. 6306, of December 14, 2007, which
regulates the Tax on Credit, Foreign Exchange and
Insurance Transactions, or Transactions related to
Securities - Tax on Financial Transactions (IOF)
Under this amendment, the IOF application to the
remittance of funds from a bank account in Brazil to
another account abroad, both held by the same person —
whether and individual or a legal entity — and the IOF
application to the purchases of foreign currency in cash are
equivalent
The IOF will be applied to the remittance of funds between
bank accounts at the same rate applied to purchases of
foreign currency, that is, 1.10%, so a tax distortion will be
eliminated. Before this change, the IOF was applied to the
remittances at a 0.38% rate.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
According to the estimates of the Federal Revenue, the
application of the equal IOF rate will generate R$ 101
million in 2018.
2) Federal Revenue Office - RFB NORMATIVE INSTRUCTION No.
1797, OF 3/9/2018
Amends RFB Normative Instruction no. 1784, of January
19, 2018, which regulates the Rural Tax Compliance
Program [Programa de Regularização Tributária Rural -
PRR] instituted by Law no. 13606, of January 9, 2018.
This Normative Instruction extended the maturity of the
first installment of the rural producer’s debt to the last
business day of April and May 2018, with the subsequent
installment to be due from June 2018.
The other changes may be checked here.
3) RFB NORMATIVE INSTRUCTION No. 1801, OF 3/26/2018
Provides for foreign exchange transactions and
maintenance of funds abroad, in foreign currency, related
to export of goods and services; it also establishes the
obligation to provide information to the Brazilian Federal
Revenue Office.
RFB Normative Instruction no. 1801/2018 extinguished the
Statement of Use of Funds on Foreign Currency Derived
from Payments for Exports (Derex), which Individuals or
Legal Entities resident or domiciled in Brazil that had funds
abroad in foreign currency were required to submit. Now,
these Individuals or Legal Entities resident or domiciled in
Brazil that have funds abroad in foreign currency,
according to art. 1 of the rule, are required to report the
Brazilian Federal Revenue Office:
a) receipt of funds derived from exports that did not enter
Brazil;
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b) simultaneous purchase and sale transactions in foreign
currency agreed as provided in art. 2 of Law no.
11371/2006
c) earnings obtained abroad deriving from the use of funds
keep abroad
These reports must specify the financial investments, the
investments and the payments of obligations proper to the
exporter, and, in the case of payments of these obligations,
the amounts used to acquire goods or services must be
specified, including those related to interest and
remuneration for rights; the following must provide the
information mentioned above:
1. Legal entities
1.1 Periods for submission of the Simples Nacional
Up to the last business day of June, in regard to the
immediately previous calendar year, via the National
Collection system, available at the Virtual Assistance
Center (e-CAC) of the RFB, in a format yet to be defined.
1.2 Periods for submission of Taxable Income, Presumptive
Profit, and Estimated Profit
This information must be provided in a specific block of the
Tax Accounting Bookkeeping (ECF) within the same period
set for the submission of the bookkeeping.
2. Individuals
Individuals must provide the information in the Statement
of Annual Adjustment to the Income Tax of Individual
(DIRPF), within the same period for its submission, stating
the value of the funds in foreign currency related to
payment for export of goods and services that, on
December 31 of the immediately previous calendar year,
were still deposited in a financial institution abroad.
The Normative Instruction also provides that failure to
comply with articles 1, 4, and 5 will cause the imposition of
the following fines of tax nature:
a) 10% of the amount of the funds kept or used abroad in
contravention of the rule, without prejudice to the
collection of the taxes due;
a) 0.5%, per calendar month or fraction, of the amount of
the funds kept or used and not reported to the RFB within
the mentioned periods, limited to 15%.
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We point out that the fines, which will be applied
independently for each of the infractions, also in the event
of simultaneity, as well as in the event of the fine provided
in “b”, will be:
a) reduced to half, if the information is provided after the
period but before any official procedure
b) doubled, including the limit, in case of fraud
Furthermore, the Individuals and Legal entities will be
required to keep all documents evidencing the
transactions performed abroad, related to the origin and
use of the funds derived from payment for exports, and to
presented them to the Tax Auditor of the Brazilian Federal
Revenue Office, when requested.
The normative instruction may be accessed here.
4) Inspection Coordination Office - COFIS EXECUTIVE DECLARATORY
ACT No. 18, OF 3/9/2018
Introduces the layout of the Digital Tax Accounting of
Withheld Amounts and Other Tax Information
[Escrituração Fiscal Digital de Retenções e Outras
Informações Fiscais - EFD-Reinf].
The act may be accessed here, and the approved layout is
available at http://sped.rfb.gov.br/pasta/show/2133.
5) Inspection Coordination Office - COFIS EXECUTIVE DECLARATORY
ACT No. 023, OF 3/16/2018
Approves the version 1.0.7 of the e-Financeira Completion
Manual, provided in art. 15, item II, of RFB Normative
Instruction no. 1571, of July 2, 2015, contained in the sole
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
annex to the instruction; it is available on the web page of
the Brazilian Federal Revenue Office (RFB) .
6) RFB INTERPRETATIVE DECLARATORY ACT No. 2, OF
3/22/2018
Provides for the conditions for deductibility of loss related
to credits arising from the legal entities’ activities.
According to this act, for the assessment of the taxable
income and the calculation base of the social contribution
on net income, only the expenses with credits deriving
from legal entities’ activities in compliance with the
requirements set in art. 9 of Law no. 9430, of December
27, 1996, may be deducted, even if payable for more than
five years without having been settled by the debtor.
The declaratory act is available here.
7) ANSWER TO INQUIRY TO TAX COORDINATION OFFICE - COSIT No. 599, OF 12/21/2017
On 3/23/2018, COSIT published the answer to inquiry no.
599 stating that a legal entity whose sole activity is the
issuance of pre-paid cards is not required to present the e-
Financeira.
The answer to the inquiry is available here.
8) ANSWER TO INQUIRY No. 2001, OF 2/21/2018
The Federal Revenue published on 3/8/2018 the answer to
DISIT/SRRF02 inquiry no. 2001, according to which the
exemption/deduction of a portion of the retirement
pension and the pension of those over 65 years, provided
in art. 6, item XV, of Law no. 7713, of 1988, do not apply to
the income of those opting for the exclusive taxation
(regressive), provided in art. 1 of Law no. 11053, of 2004.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
The answer to the inquiry is available here.
9) ANSWER TO INQUIRY No. 7006, OF 2/15/2018
The Federal Revenue published on 3/26/2018 the answer
to DISIT/SRRF02 inquiry no. 7006, according to which, in
the case of insurance brokers that assessed any undue
payment or overpayment, by reason of a Superior Court of
Justice (STJ) decision that such companies are not included
in the list of entities in par. 1 of art. 22 of Law no. 8212, of
1991, such entities may claim refund, in the absence of
prospective effects of such decision, within 5 years from
the date of the undue payment or overpayment, as
established in the legislation in effect. The STJ decision,
which recognized that the insurance brokers, which cannot
be conflated with securities companies or autonomous
private insurance agents, are not included in the list of
entities contained in art. 22, par. 1, of Law no. 8212/1991,
is not restricted to the increase in the Cofins rate, but
rather reaches other tax relations, to the extent that other
legal provisions refer to that same art. 22, par. 1, of Law
no. 8212, of 1991, which is connected to the Cofins
assessment system through art. 3, par. 6, of 9718, 1998, or
to its contents. The RFB connection to the STJ decision
implies the recognition of an undue collection but does not
imply the duty to grant applications for refund without
prior analysis as to the effective existence or availability of
the credit right at the RFB.
The answer to the inquiry may be checked here.
10) ANSWER TO COSIT INQUIRY No. 010, OF 3/8/2018
The Federal Revenue published on March 28, 2018, answer
to COSIT inquiry no. 10, stating that the payments made by
legal entities governed by private law— the health care
plan companies — to cooperatives for professional
medical and related services, addressed in par. 1, items 3,
20, 21, 24, 32, and 34, of art. 647 of the Income Tax
Regulation - RIR/1999, provided by the cooperatives to the
insured of the brokers are subject to Withholding Social
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Contribution on Net Income (CSLL), and that the medical
work cooperatives must specify in their invoices the
amounts to be paid to each service provider, on penalty of
the withholding amount being applied to total amount of
the invoice issued by the cooperative, subject to the
following:
a) amounts related to professional medical services and
related services, addressed in par. 1, items 3, 20, 21, 24,
32, and 34, of art. 647 of the RIR/1999, provided by
cooperative members/individuals, who are subject to
withholding CSLL, on behalf of the cooperative, addressed
in art. 30 of Law no. 10833, of 2003, at a 1% rate;
b) amounts related to professional medical services or
services related to medicine, addressed in par. 1, items 3,
20, 21, 24, 32, and 34, of art. 647 of the RIR/1999, provided
by outpatient clinics, blood banks, nursing homes, rehab
clinics and retirement homes prescribed by doctor,
hospitals and first-aid services, in the case the assistance is
provided on the premises of such establishments and
provided that technical and administrative subordination
is present, that is, the service is provided by a medical
professional on behalf of the legal entity that is owner of
the establishment and not on behalf of the professional,
who will not be subject to the withholding CSLL, addressed
in art. 30 of Law no. 10833, of 2003;
b) amounts related to professional medical services or
services related to medicine, addressed in par. 1, items 3,
20, 21, 24, 32, and 34, of art. 647 of the RIR/1999, provided
by medicine professionals, upon intervention of
companies, cooperatives or authorized companies,
provided on the premises of such establishments listed in
item “b” above, and without technical and administrative
subordination to those establishments, which are subject
to the withholding CSLL, addressed in art. 30 of Law no.
10833, of 2003, at a 1% rate, on behalf of each service
provider establishment;
b) amounts related to professional medical services or
services related to medicine, addressed in par. 1, items 3,
20, 21, 24, 32, and 34, of art. 647 of the RIR/1999, which
could be provided individually and independently, but, for
business convenience, are provided upon intervention of
companies, cooperatives or authorized companies, which
are subject to the withholding CSLL, addressed in art. 30 of
Law no. 10833, of 2003, at a 1% rate, on behalf of each
services provider establishment.
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The answer to the inquiry may be checked here.
11) GOVERNMENT PROPOSES UNIFICATION OF PIS AND COFINS
The Federal Revenue contemplates unifying the
Contribution for the Social Integration Program (PIS) and
the Contribution for Social Security Funding (COFINS). The
bill must be approved by the Executive before it is sent to
the Congress. The intention, according to the Director of
the Federal Revenue Jorge Rachid, is to simplify the
taxation.
According to former Finance Minister Joaquim Levy, ‘this is
a very ambitious reform, which has to be extensively
discussed at the Congress, but that may significantly
impact the simplification of the businesses’.
The news may be checked here.
12) HEALTH PLANS QUESTION THE COLLECTION OF THE SERVICES TAX
(ISS)
Upon the effectiveness of Supplementary Law no. 157, of
2016, the health care plan companies filed lawsuits
disputing the obligation to pay the ISS imposed by the
domicile of the service client and not by that of the service
provider. The first decisions made public benefit Unimed
of Rio Claro – State of São Paulo and Curitiba – State of
Paraná. Both suspended the effects of the legislations of
more than 50 municipalities to which the tax should be
paid.
The issue was discussed by the Federal Supreme Court
(STF) on 3/23/2018 when judging the Direct Action for
Declaration of Unconstitutionality 5835, in which a
preliminary injunction was granted to stay the
effectiveness of the local legislation enacted to
supplement the national law.
Supplementary Law no. 157 may be checked here and the
STF’s decision is available, in full, here.
INFORMATION REPORT MARCH 18 | Santos Bevilaqua Advogados BACK TO SUMMARY
PARTNERS OF THE FIRM AND RESPECTIVE AREAS
Daniela Matos
Insurance and Reinsurance (55 11) 5643-1065 [email protected]
João Marcelo dos Santos
Insurance and Reinsurance (55 11) 5643-1066 [email protected]
Julia de Menezes Nogueira
Tax Law (55 11) 5643-1062 [email protected]
Juliano Nicolau de Castro
Labour Law (55 11) 5643-1061 [email protected]
Keila Manangão
Litigation and Arbitration (55 21) 2103-7638 [email protected]
m.br
Marco Antônio Bevilaqua
Insurance, Reinsurance, Supplementary Pension and Supplementary Health (55 11) 5643-1063 [email protected]
Roberto F. S. Malta Filho
Corporate, Contracts, Mergers and Acquisitions, Arbitrations and Judicial Reorganization/Restructuring (55 11) 5643-1064 [email protected]
