Brazil recently passed a law to enable it repatriate Brazilian resources tucked away in foreign countries. Ricardo Tosto is one of the supporters of the move. The law which was passed in January 2016 is meant to facilitate easy returns of stolen resources hidden in other countries. Ricardo Tosto, who is also a Partner and founder OF Leite ,Tosto and Barros thinks that the project is even long overdue. He says the program is a great one for the nation and the legal fraternity. He observes that such cooperation will enable lawyers from the countries involved in the repatriation to get broader exposure. He pointed out that the process will even be expedited because documentation will have been expedited. He noted that the process now makes it easier to access the required documentation with lawyers from the countries involved being active players.
Project Repatriation of Resources
Ricardo Tosto says that the process of getting the law enacted to allow for repatriation of resources was a winding one. It had to get approval from the senate. Some of the contested elements included the 17% rate of tax that was included and a 17.5% fine. The matter was later settled, and it was agreed that the income tax rate be reduced to 15% and a fine of similar percentage. Ricardo further explains that there was also an exchange rate set for the period of December 2014. In summary, it shows that the value that was set by the union was not 30% but approximately 20%. Ricardo explains that there is a difference between the prevailing exchange rates and the rate proposed by Manoel Junior; the rapporteur of the text. Ricardo points out that the dollar exchange rate in December of 2014 was R $2.65.
Education and Career background of Ricardo Tosto
Ricardo Tosto is a practicing lawyer. He was trained at the Presbyterain University. He is a founding Partner of the Leite ,Tosto and Barros. The firm is popular among the masses for its knack for Class Action Suits. He has also represented groups and individuals pro bono. Ricardo is also has a degree in Business Administration. He has had a successful legal career representing clients in bank related suits. He has shown the courts and his clients that he deeply understands the nuances of banking and the legal issues surrounding them. Ricardo is also highly skilled in criminal litigation matters. He successfully litigated in a case involving money laundering allegations. He helped the client secure an annulment from their courts.
Ricardo Tosto info: globoplay.globo.com/v/3436363/