The Explanatory Memorandum it is stated that based

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The Basel III recommendations, the existence of deferred tax assets may result and this requirement, justifies the Explanation of Motives, aims to prevent the use on a different date according to subjective criteria that may be adopted by the legal entity and , with this, the repetition of current difficulties arising from the accumulation of credits in subsequent periods. In our opinion, MP 1128 allows us to ensure, if not the full use of the accounting PLCD for tax purposes, a relevant approximation with the accounting of financial entities and, consequently, the reality of the Brazilian financial market.

The Explanatory Memorandum of MP makes it clear that this step operates towards the convergence of local rules with international accounting standards, reducing the volume of deferred tax assets in this segment, thus allowing the risk factor of these financial assets not supported by inflows of capital stops contaminating the EX Mobile Phone Numbers financial statements of prudential conglomerates. The rule, thus published, states that the deduction of losses on the receipt of credits in operations carried out with related parties, as well as with residents or domiciled abroad, will not be permitted.



In the case of related parties, MP is based on the provisions of article  of Law which prohibits financial institutions from carrying out credit operations with a related party, as defined by it. Consequently, if the granting of credit is prohibited, the deduction of the corresponding loss will be prohibited. Regarding the credits of residents or domiciled abroad, the restriction is new, but does not seem to find support in the constitutional system, since, in principle, preventing the deduction of losses linked to the regularity of operations implies an offense against the constitutional principle of contributory capacity.