
Client Alert
26/12/2023
CMN RESOLUTION NO. 5,111/2023 – Definition of investment entity and credit rights for the purposes of the exception to the “come-cotas” taxation regime
The Brazilian Monetary Council (Conselho Monetário Nacional) published Resolution No. 5,111 to regulate the concept of “investment entity” and “credit rights” applicable to the exceptions to the periodic income taxation (“come-cotas”) introduced by Law No. 14,754/23. Investment Entities Investment funds in the Brazil with a professional management structure, represented by agents or service providers with powers to …