On 3 December 2014, Brazil published in the Official Gazette Act 46/2014 extending Provisional Measure 656/2014 for 60 days. The provisional measure, which was original published and entered into force 8 October 2014, includes adjusted bad credit write-off limits as follows:
- Bad credits up to BRL 15,000 per transaction may be written-off if outstanding for over 6 months whether judicial action has been taken for recovery or not
- Bad credits up to BRL 100,000 per transaction may be written off…