PLMJ Tax Law Practice comments on the proximate "Unified Accounting System"

The 29th of May edition of the “Vida Económica” newspaper published an article entitled “Unified Accounting System bound to create interpretation issues”  containing the declarations of PLMJ Equity Partner Rogério M. Fernandes Ferreira heading the Firm’s Tax Law Practice, on the System which shall unite, as from January 2010 Accounting national and international ruling.

According to the PLMJ’S Tax expert it is to be expected that the assimilation of the new accounting system and the tax norms it contains shall need time for a total understanding of its terms and are bound to create as from date of execution (January 2010) inevitable doubts of interpretation.

Rogério Fernandes Ferreira further stated that the “adjustments” to be made between national tax norms and unified tax new rules and the importation to our legal order of concepts and values which are not considered traditional in our accounting culture shall likely be not pacific and may increase tensions in the Tax Administration and Tax-Payer relationship.