Ricardo Tosto Analysis on Regularization of Assets Abroad Law

Ricardo Tosto is one of the co-founder of Leite, Tosto e Barros Advogados. Tosto is a greatest entrepreneur of Brazilian law. He represented companies and people in many cases which made him famous. He is more specialized in litigation and he has manoeuvred complex lawsuit that gave him excellent reputation. Moreover, he advocated for the government, prominent politicians and non-governmental organization.

Recently Ricardo Tosto was talking about a law that provides regularization of assets abroad. Law 13; 254 opens a way for technical exchange between foreign lawyers and Brazilian lawyers. Ricardo Tosto said that this law will bring positive partnership. His partner Nelson William also agrees with him that this law creates a bridge between national and foreign lawyers.

Before this law was approved, it went through a lot of hard steps in the congress. At first it was supposed to be taxed an income tax of 17.5% plus a fine of 17.5%. After a long discussion, Mr. Manoel junior, the rapporteur of the text presented a new proposal that minimized the income tax rate to 15% and a fine of 15% too.

Tosto also explain the possibilities of acquittal for crimes like tax evasion, money laundering and misconduct quoted by law 13.254. According to the custom, only major crime like smuggling, corruption, drug trafficking will not be amnestied. In this framework, Ricardo Tosto stresses that it becomes important for the partnership between international layers and national layers to complement laws and map individuals who are interested to keep their resources a secret. Keeping resources secretly abroad without the knowledge of Brazilian tax authority is a major crime. And this is why the law of regularization of assets is significant in dealing with those individuals who own illegal money outside the country. Moreover strong ties between advocate professions in different countries will make it hard to divert resources and use them unlawfully outside Brazil.

The law of repatriation of assets or regularization of assets abroad is very significant. This will enable lawyers from different nations to work together with Brazilian lawyers against illegal activities like corruption and smuggling of resources from Brazil. Ricardo tosto played a key role in implementing this role.

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