TAG Tax

Brazil Issues New Guidance on Reportable Transactions Involving Nonresidents

Contact: Gregory T. Bryant; Williams Mullen (North Carolina & Virginia, USA)

On February 27, 2013, the Brazilian tax authority, Secretaria da Receita Federal do Brasil (the “Tax Authority”), published guidance regarding the reporting obligations for certain transactions between Brazilian residents and non-residents. The guidance, Normative Instruction No. 1.336/2013 (“IN 1.336”), modifies the deadlines for reporting these transactions and the penalties for non-compliance.

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