/>											</p>
<h2>NEWS</h2>
<p>On May 6, 2016 and on October 23, 2017, the Brazilian Federal Revenue enacted Normative Rule no. 1,634 and ADE COCAD No. 9, respectively, requiring Brazilian and foreign entities enrolled with the Federal Taxpayer Registration to inform their final beneficial owners.</p>
<p>As a result of the above, since:</p>
<p>(A)       July 1, 2017, all foreign entities which have (i) applied for their enrollment with the Federal Taxpayer Registration or (ii) requested any change to their existing Registrations are required to inform their “final beneficial owners” to the Brazilian Federal Revenue as well as to provide the Brazilian Federal Revenue with apostilled and translated copies of certain corporate documents, and</p>
<p>(B)       October 23, 2017, all Brazilian entities that (i) have applied for their enrollment with the Federal Taxpayer Registration or (ii) requested any change to their existing Registrations are required to inform their “final beneficial owners” to the Brazilian Federal Revenue.</p>
<p>For the purposes of the Brazilian Federal Revenue, “<em>final beneficial owner</em>” means any individual who: (i) holds, directly or indirectly, more than 25% of the outstanding voting securities of a certain entity, or (ii) have the right to direct the management and policies of a certain entity, regardless of whether or not the individual holds a controlling interest in said entity. </p>
<p>For further information, please contact our <a href=Corporate and M&A team. 

 

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