(Login Bluster2000) Forum Owner Posted Aug 5, 2005 10:01 PM
Hello Fragata,
Why do you think that the transfer of funds to a physical person“s account in Brazil is illegal? Provided, of course, that the source of the funds is legitimate as well as the destination and purpose documented.
It would be up to the Receita Federal to define the tax status of the wire, but I doubt that you can get a straight answer from them. At least, I couldn“t.
The Lećo would have up to five years to claim taxes, I would try to talk to a very good tax attorney who might be able to provide the guidance.
Why are you so bitter about Tore“s business venture? I am pretty sure that if there were some rational and practical ways of transfering funds for purchase of Real Estate by foreigners without permanent residential status available who“d use them vs. going through hell with the present situation...