Ricardo Tosto is a well-known lawyer from Brazil who has worked with a wide range of clients through the course of his career. He is considered to be an ace lawyer and someone who is incredibly well versed in the field.
In a recent article, Ricardo Tosto spoke about the new law in Brazil which makes the process of regularization of assets abroad much more streamlined.While talking about the subject, he also questioned whether or not this kind of exchange would prove to be beneficial to lawyers that work internationally, and the impact that it would have on the legal industry within Brazil.
Often, legal firms that belong to Brazil have centers in other parts of the globe. A lot of the prominent law firms operate internationally as well, which is why the impact of the new law comes into question. According to Ricardo Tosto analysis, the law will overall have a better effect on the field and the firms that operate in international territories. It will give way to a system that is more standardized, and which will enable the proper use of Brazilian resources for the benefit of the offices within the country.
The law also works to reduce the amount of cross-border and money laundering crimes that are being committed. Companies that have local and international offices have been known to launder the money off to another country to avoid taxes, which has, in turn, had a bad effect on the economy of Brazil. The new law place harsher restrictions on companies thereby making money laundering harder. This will hopefully keep the money earned within the country itself, thus contributing to the Brazilian Economy.
Many other business leaders and lawyers across the country also agree with the views that Ricardo Tosto holds about the field and the impact the law will have on it. To them, this new law will facilitate a good amount of development to the Brazilian sector of the field, enabling a stronger focus on the offices that are located within the country itself. This will also encourage more investment into the local centers of the law firms, rather than its international branches.
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