Partner Diego Miguita comments on the billion-dollar movement of companies to adapt to the new taxation on dividends in a Forbes Brasil report

With the recent approval of the Income Tax reform and the enactment of Law 15,270/2025, which reintroduces taxation on dividends and profits distributed to individuals, companies across the country have intensified a strategic movement to adapt to the new tax landscape and reorganize their corporate and financial structures.

In an interview with Forbes Brasil, partner Diego Miguita analyzes the impacts of the new rule on corporate dynamics and highlights the main factors that have guided market decisions during this transition period.

Advance distribution of dividends and pressure on cash flow

According to Miguita, the need to approve and distribute dividends related to 2025 by December 31, in order to ensure exemption, has significantly increased the volume of corporate decisions at the end of the year. Although legitimate and provided for by law, this movement places relevant pressure on companies’ cash flows, especially those with greater reinvestment demands or lower liquidity. Smaller companies are particularly sensitive to this adjustment.

Impacts for investors and effects on corporate strategies

The combination of the new taxation and the advance distribution of proceeds has changed the relationship between companies and investors. For shareholders, the measure represents an opportunity to receive earnings without the incidence of the new tax rate. For companies, especially publicly traded ones, the decision may result in the repatriation of accumulated profits, influencing expansion strategies, resource allocation, and potentially generating volatility in the exchange rate.

Transition period requires tax and corporate planning

According to Miguita, adapting to the new model goes beyond isolated decisions. The transition requires robust tax and corporate planning, reviewing profit distribution policies, and carefully analyzing the accounting impacts of the legislative change. For the partner, this is a strategic moment for companies and investors to reorganize processes, mitigate risks, and build more efficient models for the cycle beginning in 2026.

Read the full Forbes Brasil article.