Law 19.578 Num Grants Increase Pensions And Sets Its Financing By Means Of Changes To Tax Rules


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(("Article 1.-Introducense the following amendments to the income tax Act, contained in the article 1º of Decree Law No. 824, 1974: 1-in (c)) the 1st number of the letter A) of article 14, agreganse following final, new subparagraphs:" when taxpayers that invest in shares of open joint-stock companies pay, subject to the provisions of this letter , alienated them by Act inter vivos, deemed that the seller has made a taxable retirement equivalent to the amount invested in the acquisition of the shares, being subject in excess to the General rules of this law. The taxpayer may give credit the first category tax paid in the society from which became the investment against the additional or complementary Global tax which applies over the withdrawal alluded, in accordance to the rules of articles 56 °, number 3), and 63rd of this law. Therefore, in such operations investment and credit not will become part of the Fund's taxable profits of the company that receives the investment. The same treatment provided for in this subsection will have full or partial return of capital with respect to the actions in which the investment was made. For the purposes of the determination of such a withdrawal and credit that corresponds, the respective amounts will reset according to the variation of price index consumer between the last day of the month prior to the payment of the shares and the last day of the month preceding the alienation.
However, taxpayers who have alienated the above-mentioned actions, may return to invest the amount collected up to the amount corresponding to the value of acquisition of the shares, duly adjusted until the last day of the month preceding the new investment, companies forced to determine your effective income by means of full accounting, not to apply in this case the taxes referred to in the preceding paragraph. Taxpayers shall benefit all the rules set out in this letter, regarding new investments. For this purpose, within twenty days referred to in the second paragraph of this letter, be counted from the date of the respective disposal.
Taxpayers who carry out the investments referred to in this letter, please inform the host society at the time that this perceived investment, the amount of the contribution corresponding to the taxable utilities that have not paid Global complementary or additional tax and credit for tax of first category, requirement without which the investor does not enjoy the treatment provided in this letter. The company must acknowledge receipt of the investment and credit associated with this and report this situation to the internal revenue service. When the recipient is a corporation, it shall inform also that service the fact of the alienation of the respective actions. ".

2. in article 21: A. amend the first subparagraph, in the following way: a.-Add, after the words "partners individuals" the phrase "or the additional tax taxpayers who are not natural persons, when in the latter case, the internal revenue service determines that the loan is a covert retreat of taxable profits".
b add, then quarter followed dot (.) the following sentence: "In the case of cars, station wagons and similar vehicles, shall be presumed right to the minimum value of the benefit shall be 20%.".
c added, after the separate dot (.), that happens to be followed dot (.), as follows: "in the event that any property of the company is given in guarantee obligations, direct or indirect, partners individuals or taxpayers of the additional tax, and this out executed by the total or partial payment of such obligations, shall be deemed withdrawal in favour of such persons up to the amount of the payment made by the guarantor company.".

B in the second and third subparagraphs, replaced the expression "second paragraph," which both follows the figure "38", "with the exception of its subparagraph first".

3 in N 2 ° of article 31, add the following sentence after "real estate": ", unless in this case not appropriate use as credit".

4. replace paragraph sixth number 1 of article 54 °, the expression "second item", the second time it appears, by "with the exception of its subparagraph first".

5. in the article 57 bis: A. repealed paragraph called "A. shares of corporations open.".
(B) replace the expression "B. Other investments ", by" to. Investments. ".
C replace the letter "C." the title "Special rules for article 42 °, no. 1 taxpayer.", the letter "B.".
D on the number 4 º., first paragraph, of the current letter B., which became letter a., replace the term "the average rate of tax of the person" before the sales credits conferred by law for the expression "a 15% rate".
E replace first subsection, the number 5.-, of the current letter B., who happened to be letter a., by the following: "5 °. If the number of net savings of the year was negative, this will be multiplied by a rate of 15%. The resulting amount shall be a debit to be considered complementary Global tax or tax only of second category of taxpayers, as appropriate, by applying the rules of article 72 °. In the event that the taxpayer may have a number of positive savings for four consecutive years, from that period, the aforementioned rate, for all following annual rotations, applies only on the part that exceeds the equivalent of ten annual tax units, according to its value to December 31 of the respective year. ".

F in the first paragraph of the number 6. current letter B., which became the letter a.: a. replace the expression "this letter" with "this article".
b delete the expression "with the exception of persons whose negative net savings figure of the year does not exceed ten annual tax units referred to in item 5.", replacing the comma (,) that precedes it, by a final dot (.).

G delete the number 10th.-the current letter B-, that it became a letter a., and add the following number 10.-, new: "10th-may also benefit from this article investments carried out by the subscription and payment or acquisition of shares of open joint-stock companies, which at the date of the investment to comply with the necessary conditions to be the subject of investment mutual funds according to the number 1 of article 13 of Decree Law No. 1.328, 1976.

Respecto_de these investments will apply, and in addition, the following special rules: to) only the shares of open joint-stock companies that have expressed their willingness to become institutions recipients for the purposes of this article, to the internal revenue service may benefit from provisions of this number which must be reported, in addition, to the stock exchanges that possibly their actions.
(b) for the purposes of this article, be understood as date of investment that in which the registration of transfer or subscription and payment of the shares in the register of shareholders of the company, and as the value of the investment occurs the amount of the purchase or subscription, as applicable. The investor must manifest to request transfer or subscription and payment, its intention to host the investment provisions of this article.

For its part, means as the date of withdrawal or rotation of the investment, that in which to register the respective alienation.

(c) investments that are carried out by means of the acquisition of shares that are not of first broadcast, made on stock exchanges of the country.
(d) disposals made on any stock exchange of the country, and the price of which shall constitute the amount of the withdrawal or rotation. ".

H in the first paragraph of the 1st number. current letter C., which happens to be letter B., delete the expression "the number 1 letter a. and the determination of the credit referred to in the letter B. of".
I deleted the 2nd number. current letter C., who happened to be letter B., passing the current number 3 number 2.
J is replaced by current number 3 °, which became number 2 °, from the current letter C., which happened to be letraB., the expression "the letter B." by "this article" in two opportunities to use.

6 Insert, in the final paragraph of article 101 °, between the expressions "interests" and "to pay" the following: "or other income", and replaced the expression "tanks" by "recruitment operations".