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December30

Normative Instruction RFB No. 1,863/2018 postpones the deadline for informing the Ultimate Beneficial Owner (UBO)

By , in UBO

Earlier today (December 28, 2018) the Brazilian Federal Tax Authorities issued Normative Instruction RFB No. 1,863/2018, revoking the Normative Instruction No. 1,634/2016 and altering specific provisions regarding the National Registry of Legal Entities (CNPJ). Among the changes, we highlight the provisions related to the filing of information ...

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October26

Ultimate Beneficial Owner (UBO) deadline in Brazil

By , in BEPS

In the context of BEPS, FATCA and all global transparency efforts, Brazilian Tax Authorities issued Normative Instruction No. 1,634/2016 (IN 1634/16) as a measure to implement some reforms suggested by the OECD and to ensure compliance with the terms of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters under which ...

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August29

COSIT Consultation Ruling No. 91/2018 – Taxation on Reinsurance Companies

By , in Taxation on Insurance

In May 2018, the Brazilian federal tax authorities (RFB) changed their understanding of the taxation applicable to admitted reinsurers (reinsurance companies that have a representative office in Brazil). In January 2017, the RFB expressed its understanding that admitted reinsurers should be subject to the same tax treatment imposed on local ...

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September22

Consultation Ruling Denies IRRF Exemption on CRI Earnings

By , in International Taxation Sem categoria Tax Treaties Taxation on Non-Residents Withholding income tax ("WHT")

On September 21, 2017, the Federal Revenue of Brazil (RFB) published Consultation Ruling COSIT RFB 443/2017, which denies an exemption of the Withholding Income Tax (IRRF) for earnings of Certificates of Real Estate Receivables (CRI). The petitioner, a Brazilian subsidiary of a Canadian Government Agency, argued that CRI earnings should be ...

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December30

Brazilian Regulations on Common Reporting Standards (CRS) and Country-by-Country Report (CbCR)

By , in Base Erosion and Profit Shifting - BEPS BEPS Common Reporting Standards - CRS Corporate Income Taxes - IRPJ/CSLL Exchange of Information FATCA Individual Income tax ("IRPF") International Taxation OECD Statement of Assets Tax Compliance Tax Planning Tax Transparency Transfer Pricing

On December 29, 2016, the Federal Revenue Secretariat (“RFB”) enacted Normative Instructions (“IN”) RFB nº 1,680 and 1,681, treating, respectively, of the identification of financial accounts in accordance with the CRS, and of CbCR, in line with BEPS Action 13. Both financial information and CbCR information will be ...

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December30

Austria and Brazilian Gray List

By , in Base Erosion and Profit Shifting - BEPS Corporate Income Taxes - IRPJ/CSLL International Taxation Taxation on Non-Residents

Brazilian tax authorities (“RFB”) clarified today that, in relation to Austria, the inclusion in the so-called “gray list” – i.e., list of beneficial tax regimes, which implies in more severe rules of thin capitalization and deduction of expenses, and application of transfer pricing rules – will only apply ...

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September14

Updates to Brazilian blacklist and graylist and new definition of substantive economic activity

By , in Base Erosion and Profit Shifting - BEPS BEPS BEPS CFC Rules CFC Rules Corporate Income Taxes - IRPJ/CSLL Deduction of expenses International Taxation OECD Sem categoria Tax Planning Tax Treaties Taxation on Non-Residents Thin Capitalization Transfer Pricing Treaty to Avoid Double Taxation Withholding income tax ("WHT")

On September 14, 2016, the Federal Revenue of Brazil (“RFB”) published Normative Instruction RFB 1,658/2016, which updates the blacklist (list of tax havens) and the graylist (list of privileged fiscal regimes) and inserts a definition for “substantive economic activity” in Normative Instruction RFB 1,037/2010. The ...

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June09

Tax Treaty Series: Tax Information Exchange Agreement and Intergovernmental Agreement between Brazil and the United States

By , in Action 12 Exchange of Information FATCA International Taxation Tax on Credit Transactions ("IOF/Credit") Tax on Foreign Exchange Transactions ("IOF/FX") Tax Transparency Tax Treaties

This is a special post of our series on Brazilian tax treaties. In this post we will address the details of the Tax Information Exchange Agreement (“TIEA”) and of the Intergovernmental Agreement (“IGA”) signed between Brazil and the United States.

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April29

Tax Treaty Series: The Bilateral Income Tax Treaty between Brazil and India

By , in Base Erosion and Profit Shifting - BEPS BEPS BEPS CFC Rules Corporate Income Taxes - IRPJ/CSLL Deduction of expenses Exchange of Information International Taxation OECD Tax Sparing Tax Treaties Taxation on Non-Residents Thin Capitalization Transfer Pricing Treaty to Avoid Double Taxation Withholding income tax ("WHT")

This is the ninth of our series of posts on Brazilian tax treaties. In each post we provide an overview of a specific tax treaty between Brazil and a particular foreign country, as well as comments on any Brazilian administrative or judicial precedents applying the treaty, and highlights on the impact of the OECD Base […]

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April08

Tax Treaty Series: The Bilateral Income Tax Treaty between Brazil and Austria

By , in Base Erosion and Profit Shifting - BEPS BEPS BEPS Corporate Income Taxes - IRPJ/CSLL International Taxation OECD Tax Planning Tax Sparing Tax Treaties Taxation on Non-Residents Transfer Pricing Treaty to Avoid Double Taxation Withholding income tax ("WHT")

This is the seventh of our series of posts on Brazilian tax treaties. In each post we provide an overview of a specific tax treaty between Brazil and a particular foreign country, as well as comments on any Brazilian administrative or judicial precedents applying the treaty, and highlights on the impact of the OECD Base […]

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