Ricardo Tosto on the Brazilian Repatriation Law

Mr. Ricardo Tosto De Oliveira Carvalho is the most prominent lawyer and partner of Liete, Tosto e Barros Law firm. He is projected as the market leader with the highest recognition. He is most celebrated for the way in which he approaches and conducts commercial litigation. Mr. Ricardo Tosto specializes in cases related to credit recovery, Banking contracts, Bankruptcy, Reorganization, Civil law, Commercial Law amongst many others. Several clients have described Mr. Ricardo Tosto as dedicated and skilled in whatever case he decides to take on.

Ricardo holds a bachelor’s degree in law from Mackenzie with an extension course in Business Management. He has held various prestigious positions in his successful career. He was the president of the Judicial Modernization Committee and the Judicial Reform Committee. He is also a member of the International Bar Association. Besides, he continuously writes on the subject of law and politics.

In an article by Corporate News, Ricardo Tosto comments on the law providing for the regularization of assets abroad. The provision of this law allows for technical exchanges between Brazilian lawyers and foreign lawyers. According to Ricardo, this is an excellent partnership in the effort aimed at making the repatriation of Brazilian resources possible. He goes on to ascertain that the law on return faced unnecessary in the bid to approve it by the Congress. He recalls that the income tax rate was initially set at a higher stake but after much discussion was reduced to 15%.

Mr. Ricardo Tosto Further states that, with the passing of this law, there arises the possibility of the release of petty crime offenders such as money launders and tax evaders. According to the norm, only serious crimes such as corruption, smuggling or drug trafficking will face trial. Mr. Ricardo emphasizes the importance of the law in the harmonization of the attempt to map out individuals who keep their resources hidden from the Brazilian government. The repatriation project targets the individuals who are illegally holding resources abroad without paying applicable Brazilian tax. He concludes by stating that the project is aimed at correcting this deficit.

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