Tax Information Exchange Agreement

Decree No. 8,003, of May 15, 2013, promulgating the Agreement signed in 2007 between the Governments of Brazil and the United States for the Exchange of Information Relating to Taxes.
With the enactment, the Brazilian and American tax administrations may already mutually formulate requests for information considered relevant to the exercise of their duties. On the Brazilian side, the exchange of information covers the following taxes: Income tax, PIT, IPI, IOF, ITR, PIS, COFINS and social contribution.

The Agreement provides not only the possibility of exchange of information, but broadens the scope for cooperation between tax administrations for the surveillance practices, subject to the limits of their national laws. It also establishes in line with the positions adopted there are times to tax agreements, strict rules regarding the protection of the confidentiality of information received and provided.

Finally, the Agreement serves not only the interests of their tax administrations but also strictly observes the rights and guarantees of the taxpayer. Such agreements, the conclusion of which has been intensified by Brazil in recent years, are crucial to the fight against fraud, tax evasion and aggressive or abusive tax planning, preventing erosion of the tax base of the country. They are also important tools in fight against organized crime and money laundering.
The guidance adopted by Brazil, besides reflecting their greater involvement in the Group's efforts 20 (G20) in the fight against "tax havens", is inserted into the global trend of increased collaboration between the administrations of the countries in the tax field, in particular to follow the globalization of business and the mobility of capital, people and the provision of services. One consequence of this involvement was the accession of Brazil, on November 3, 2011, the "Convention on Mutual Administrative Assistance on Tax Matters" ("Multilateral Convention"), corresponding to the exchange of information act that already has the Accession nearly 50 countries.

The other tax exchange agreements entered into with certain tax havens (Bermuda, Cayman Islands, Guernsey, Jersey), Uruguay and the United Kingdom, have not yet been incorporated into our legal system, according to the procedure required by the Constitution: approval Congress, through a legislative decree; and promulgation by the President, by decree (arts. 49, I, and 84 IV of the Constitution / 1988).
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