The national government made official with the promulgation of Law 27440/2018 of Promotion to SME financing, published this Friday (11.5.2018) in the Official Gazette.
According to the norm, the following will be carried out: next changes:
The would be created Electronic credit invoice for SMEs: In this way, they could be traded on markets authorised by the National Securities Commission (CNV) and in financial institutions as if they were cheques. In addition, financial instruments intended for investment by companies would be exempt from future taxation on financial income.
Boost to mortgage and savings financing by creating a mortgage debt market through which entities that place these credits can negotiate them in a secondary market (trust).
Proposed amendments to Law No. 26.831 of Capital Markets which reintroduce aspects of self-regulation and limit those of state oversight.
Proposed amendments to Law No. 24.083 of Common Funds Investment that will equalize the tax treatment of closed-end funds with that of open-end funds.
Guarantee agents for syndicated financing that would structure real guarantees when there is more than one creditor.
Proposed amendments to Law No. 23.576 of Negotiable Obligations, which would modernize the regime and authorize issues in foreign currency.
Proposed amendments to Law No. 27.264 "Productive Recovery Program", which would promote the use of promissory notes as a medium-term financing instrument for SMEs.
Coverage of risk arising from credit operations This would enable lenders to cover their risk through insurance. The aim is to generate greater confidence and encourage the expansion of credit.
Boost to opening of capital and the development of real estate and infrastructure projects which would establish tax benefits so that Mutual Funds would be a vehicle for structuring these projects.
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