Today (12), the Internal Revenue Service, in partnership with the Organization for Economic Co-operation and Development (OECD) and the UK government, held the public presentation of the new transfer pricing system for Brazil. The event was broadcast live on the foundation’s YouTube channel.
To the Private Secretary for Federal Revenue, Tax Auditor Julio Cesar Vieira Gómez, “Brazil, represented by the Federal Revenue Service and the Organization for Economic Co-operation and Development, has been developing since 2018, a project to assess Brazilian legislation on transfer pricing. In 2019, we published an extensive and in-depth report in which we reached the conclusion of this analysis. Brazil is already providing important elements to simplify its legislation, which anchors and allows for greater legal certainty.On the same occasion, we also identified that there were and are some elements needed to improve in order to avoid double taxation and non-taxation, which are completely detrimental to our objectives in terms of transfer pricing and align us with regulated guidelines Economic Cooperation and Development”.
Julio Cesar explained that overcoming these elements that still need to be further improved will enable Brazil to be more attractive to foreign investment, allow the country to be more integrated into global economic chains and develop, expand and protect its tax base.
On Economy Minister Paulo Guedes, “The great progress we celebrate today is that, when we have succeeded in this convergence, we avoid two evils: the evil of excessive taxation, and the double taxation that prevents investments; and the evil of evasion, by diverting profits into more tax-friendly legislation. This is fundamental because it allows us to achieve Gains in efficiency, through the effective allocation of investments across this global community espoused by the convergence of these practices”.
Deputy Special Secretary of the Internal Revenue Service, tax auditor Sandro Serpa concluded the meeting by informing that the next step would be to discuss with the private sectors interested in contributing to the improvement of the project.
The event was attended by Minister of Economy Paulo Guedes, Private Secretary for Federal Revenue, Tax Auditor Julio Cesar Vieira Gómez, Director of the Center for Tax Policy and Management at the Organization for Economic Co-operation and Development, Pascal Saint Aman, Ambassador of the temporary member of the United Kingdom to Brazil, Melanie Hopkins, and Assistant Special Secretary, Tax auditor Sandro de Vargas Serpa accompanied them, virtually, by more than 700 viewers on Federal Revenue’s YouTube channel.
Watch the event with subtitles in Portuguese (left) or English (right):
click here To access the presentation in Portuguese.
click here To access the presentation in English.
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