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The Journal July 2018

The Journal - July 18
Pragma Business Congress in Boston (USA): Join Us to Develop Your Business in the States, Meet Industry Leaders and Professionals and Share Knowledge and Insights

Gilberto Gelosa

This year's annual conference of Pragma, the international network of leading independent law and consultancy firms in over 20 countries, will be held in Boston (18-21 October 2018), the world-renowned center for biotech, education, healthcare and high tech.

For the first time, we are inviting our clients to join us for what promises to be an eye-opening and valuable experience for your business. At the Congress, Pragma members from all over the world will be joined by leaders in various industries, such as retail, construction, health, capital markets and education amongst others.

The Lawyer Acting as Corporate Attorney-in-fact

Guilherme Setoguti

Appointing a lawyer to act as attorney-in-fact for the company’s routine affairs is commonplace in the corporate environment. And this is all the more true for companies held by foreign-based equity partners, which are required by law to have a representative in Brazil. 

It should be first pointed out that such appointment has nothing to do with the role of the attorney-in-fact set out in article 119, which reads that “a shareholder resident or domiciled abroad shall have a representative in Brazil vested with powers to receive service of process in lawsuits brought against it based on the precepts of this law.”

R&D Tax Bonus: Even for Branch of Non Resident Companies

Federico Rossi

Italian legislation grants, since 2015 and till 31th December 2020, a tax bonus to the resident companies for the investment in research and development (R&D). Every company, based in Italy, is entitled to obtain this tax bonus, that is represented by a deduction for every kind of taxes or social security contributions due.

The bonus is 50% calculated on the incremental R&D expenses done every year (2015 – 2020) compared to the average investments made by the company in the previous 3-year period (2012-2014).

A Changed World: The Supreme Court Permits State and Local Taxation of Online Sales by Retailers with No State Presence

Meghan Hottel-Cox

With the growing and evolving retail world, which we have discussed before, one thing had remained constant: retailers did not have to collect sales tax for online sales to states in which they had no physical presence.

Thanks to the Supreme Court, that principle had remained a stalwart for both online retailers and brick-and-mortar retailers who wish to expand their markets beyond their physical stores. However, the Supreme Court has overturned that precedent and is now allowing states and localities to subject all sales, including online sales, to consumers within a state to sales taxes.

The next step after Fintech: Legaltech

Aline Arbesú

This new niche of business opportunities through which companies use technology platforms to provide all kinds of financial services, has positioned itself in recent dates, providing users with services that operate in varied markets, in an agile, efficient and "friendly" way.

Whether to the user of the financial system directly or indirectly by designing solutions to companies that offer them: Fintech is, without a doubt, to the world of financial services what Legaltech promises to be to the legal world.

Purchasing a Property on the Basis of Misrepresentation

Rachel Waller

You’ve found your dream home, you’ve had an independent valuation carried out, and it seems that the home you want to buy is worth the valuation. But what protection do you have if the information you’ve relied on in getting the valuation turns out to be incorrect and is a misrepresentation?

The basic principle underpinning the sale of property is caveat emptor, or “buyer beware”. This means that the buyer takes the property as they find it, and is responsible for identifying any defects themselves.