Rio, November 18, 2003 (Agência Brasil - ABr) - Foreign investors eagerly await the conclusion of the tax reform to make decisions about investing in Brazil, Pedro Paulo Salles Cristófaro, of the Lobo & Ibeas law office, specialized in entrepreneurial law, said today.

According to the legal specialist, investors consider the conclusion of the process as most important, not only with regard to tax reform, but also the Law of Bankrupcies and the reform of the Civil Code, because this means stability and allows investors to know the rules for applying resources in the country.

Investors have a negative view of surprises, indefiniteness, or changes, as occurred with Provisional Measure 192, which affected the Cofins and capital gains on foreign investments. For investors, facts like this turn them off, said Cristófaro. In his opinion, if, when all is said and done, the tax reform simplifies the fiscal issue and reduces the tax burden, its effect will be positive for foreign investments in Brazil.

Cristófaro participated in the 4th Franco-Brazilian Juridical Encounter, which is being held at the Federation of Industries of Rio de Janeiro (Firjan) through Wednesday (19), with the participation of jurists from the two countries. (DAS)