Starting in 2008, IFRS introduced into the Brazilian accounting system a new method for calculating and recording goods on books (Purchase Price Allocation Approach – PAA). The seller`s gross income would be subject to the Contribution for Social Integration Programme (PIS) and the Contribution pour la financing Social Security (COFINS) with a combined rate of 9.25 per cent (non-cumulative scheme) and 3.65 per cent (cumulative scheme). The seller would be the party who usually bears the costs. It should be noted that income generated from the sale of shares, operations and assets recorded as long-term assets would not be subject to PIS and COFINS. In the case of an asset agreement, the buyer must create a new entity at the location where the assets are located in order to obtain all the licenses and records necessary for the activity. In Brazil, separation costs are usually related to the termination of the transaction by a party for no reason, typically at its early stage. They are unusual from a given date during the negotiations, especially after the execution of final agreements between the parties. Brazilian legislation does not provide for any legal restrictions in this regard. Are there, in particular, assets or liabilities related to the acquisition or disposal of an undertaking which cannot be excluded from the transaction by an agreement between the parties? Is it generally necessary to obtain consents or make declarations to ensure the transfer of assets or liabilities in the time of a business transfer? A share purchase agreement is entered into by one party to purchase shares from another party; As a rule, the shares are for a private company. The agreement describes the amount, schedule and method of payment as well as any insurance or guarantees of the buyer and seller. Generally speaking, corporate restructurings (e.g. corporate restructurings.B.
incorporatorial, fusões and cisões), liquidations and capital deposits, including share deposits – may be exempt from tax in Brazil, provided that assets are transferred at the book value of the tax and other formalities are fulfilled. Under an asset agreement, the buyer acquires assets from a company, which is itself the “seller” in such a transaction. The sale of an asset may be part of the ordinary activities of the company. For example, the company may sell a machine that is part of its assets and has little or no impact. However, where a business sells assets that constitute an operating establishment or an entire business, or even an entire site (and all the assets it contains), such an asset sale should be carefully analyzed and structured. If a Brazilian company uses its independent transactions as transaction transactions (for example.B.B. purchase of the same or a similar product on the domestic or local market), the products of comparison with third parties must represent at least 5% of the amount of the import operations. . . .