Brazil: Agreement for the Exchange of Federal Tax-related Information Between the United States of America and Brazil Enters Into Force

On May 16^th 2013, the US-Brazilian Tax Information Exchange Agreement ("TIEA") executed on March 20^th 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.