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Transfer Pricing Report

Brazil’s Tax Rules Need Upgrade Before Nation Can Join OECD (1)

Dec. 18, 2019, 12:23 PMUpdated: Dec. 18, 2019, 11:36 PM

Brazil needs to do more to stop multinational companies from shifting profits offshore and to align its tax system with the rest of the world, the OECD and the country’s tax authority said.

Failure to make changes could delay Brazil’s effort to join the Organization for Economic Cooperation and Development.

Brazil applied for OECD membership in May 2017 and has been working with the organization since 2018 on a 15-month assessment of its transfer pricing rules, which govern how intercompany transfers are valued for tax purposes. Joining the organization would help Brazil align its tax rules with international standards, making...

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