A new corruption scandal—unrelated to Petrobras—has erupted in Brazil. According to press accounts, Brazilian and multi-national companies alike have bribed judges in the Brazilian tax courts. Some accounts suggest that the alleged conduct could have helped companies in diverse areas of the Brazilian economy to avoid more than USD 20 billion in taxes, which, if true, could mark this as one of the biggest corruption schemes ever uncovered.
Please join us as we discuss:
- How the corruption scheme allegedly worked and the enforcement actions that are already underway
- The potential role for law enforcement outside Brazil, such as in the US and the UK
- The risks for companies with tax controversies in Brazil
- The reforms underway in Brazil's tax courts