• Legal Ruling on Goodwill
  • May 31, 2013
  • Law Firm: Fernandes Figueiredo Advogados - São Paulo Office
  • Firstly, it is important to point out that the alterations made to the Law n. 6,404 of 1976 by the Law n. 11,638 of 2007 did not introduce an accounting legislation in Brazil, due to preexisting legal regulation on that matter (original wording of the Law n. 6,404 and the Civil Code). Nevertheless, such changes did highlight its importance. The current accounting law is formed by these laws, in addition to the regulations set forth by the Federal Accounting Council (CFC) and decisions of the Securities and Exchange Commission (CVM). In this sense, in the light of the article 110 of the National Tax Code, these regulations must also be observed for taxation purposes.