On November 29, 2023, the plenary session of the Federal Senate voted to approve Bill of Law (“PL”) No. 4.173/2023.

The text of the Bill was forward for presidential analysis. If the President of the Republic gives his approval, the Bill will become a law.

We would remind you that Bill 4.173/2023 deals with two major issues: (i) the taxation of financial assets and controlled companies held abroad by individuals tax residents in Brazil, including investments through offshores and trusts; and (ii) changes to the legislation on the taxation of brazilian investment funds.

We will be following the President of the Republic’s statements on the subject, remembering that the presidential sanction may occur with or without vetoes.