The capital reparation up to the value certified before the BACEN (Brazilian Central Bank) is not subject to taxation according to the Brazlian Law. We do know also that dividends can be remitted abroad as soon as they are being divided among the shareholders; or they can be used to recapitalized the company increasing its social capital or offsetting losses; or they can be reinvested into a fund belonged to the company for new ventures.

Looking at all these hypothetical, we may or may not take one or the others, but certainly we have a full hand of possibilities to work on rational remittances diminishing tax liability.

We should remember that everything turned into capital and registered before BACEN can be remitted abroad after liquidation without withhold tax.

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