The president of the Senate, Rodrigo Pacheco (PSD-MG), will present this Monday (2) a bill that aims to define the interest rates and monetary correction that should be applied to labor and civil indemnities by Brazilian courts. The standardization is in line with the premises of the OECD (Organization for Economic Co-operation and Development).
The text provides that the indemnities will have monetary correction equivalent to the IPCA, and that the interest will be that of the additional remuneration of savings deposits, that is, 0.5% per month, if the Selic (basic interest rate) is above 8.5% per year, or 70% of the Selic rate, when this rate is equal to or lower than 8.5% per year.
The bill brings data from a study carried out by the OECD, which shows the need to standardize compensation in Brazil to increase legal certainty.
The Brazilian government said in January that it is at an advanced stage to join the OECD, considered the “club of rich countries” and reported that it has already complied with 103 of the organization’s 251 normative instruments.
According to the OECD, in the case of compensation, companies operating in Brazil face “significant heterogeneity in judicial decisions”, which ends up harming investments in the country.
In a note, Pacheco stated that the PL will be able to create a “remunerative justice, both for creditors and debtors, regardless of the inflationary situation and the monetary policy practiced in Brazil”.
The project does not limit rates in the private sphere, it only points out the indicators that should be used by the Judiciary in decisions and sentences that require monetary correction and default interest. The expectation, according to Pacheco, is that there will be no more discrepancies or doubts related to the rates used by different judges and courts.
“We will standardize the main understandings of the Federal Supreme Court (STF) on the subject and we will bring transparency and security to our legal system”, he said.