On May 16th 2013, the US-Brazilian Tax Information Exchange Agreement ("TIEA") executed on March 20th 2007 entered into force. The TIEA aims at combating tax evasion and other tax related crimes as well as to protect the US and Brazilian tax basis in cross-border transactions involving both jurisdictions.
The Legislative Decree n. 211/2013 and the Decree n. 8.003/2013 have been recently enacted to make the TIEA enforceable in Brazil. The preamble of Decree n. 8.003/2013 indicates that the treaty is already in force in the United States as well.
Please refer to our previous alert on the matter by accessing the link: http://migre.me/eDlnX
The Tax Department of Felsberg, Pedretti e Mannrich Advogados e Consultores Legais is available for any further clarification on this matter that anyone should feel necessary.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.