Also referred to as asset repatriation, Ricardo Tosto has been at the forefront for advocating for the regularization of assets abroad. He had made such an appeal through Law 13,254 on 13th January, 2016 with a perception that the proposal will open doors for technical exchanges between lawyers in Brazil and those in foreign countries.
Relevance of the repatriation proposal
Ricardo Tosto is the co-founder of Leite, Tosto and Barros law firm which is based in Brazil. Knowing the significance of international partnership in law, the skilled lawyer believes that the population of Brazil will greatly benefit particularly in regards to recovery of national resources. One person that is in support of Ricardo Tosto is Gil Vicente Gama who is an advocate at the Nelson William Advogados and Associates. He pointed out that repatriation of resources would open ways of partnership between the national and foreign lawyers. He further claimed that the process would be able to facilitate processes and procedures that involve particularities from different countries.
Congress approval of the law
Since it was proposed to the House, Ricardo Tosto notes that the proposal has faced a lot of challenges before it became approved. First, it was subjected to an income tax rate of 17.5 percent with a fine of 17.5 percent. However, this amount was later reduced by the text rapporteur, Mr. Manoel Junior to an income tax and fine rates of 15 percent respectively.
Possibility of amnesty
With law 13.254 in place, Ricardo Tosto believes in the possible acquittal of certain crimes such as misconduct, laundering, and tax evasion. This would mean that only serious crimes like resource confiscation and corruption are punished. In this context, the partnership between lawyers of Brazil and other nations would aid in the mapping of Brazilian citizens who hide out resources they acquire in other countries.
Ricardo Tosto has represented many clients including big companies in cases that have gained national recognition. He has over the past advocated for politicians, the Brazilian government, NGOs, and multinational companies, and has worked very hard to defend his clients. Ricardo Tosto is also aware of his experience and potentials and as such has never lost any of his cases. He has also contributed greatly to different laws in the Brazilian community with the aim of improving the society.
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