BRAZILIAN FEDERAL SENATE APPROVES AGREEMENT TAX INFORMATION EXCHANGE BETWEEN U.S. AND BRAZIL

BRAZILIAN FEDERAL SENATE APPROVES AGREEMENT TAX INFORMATION EXCHANGE BETWEEN U.S. AND BRAZIL

It was approved the Agreement for the Exchange of Information Relating to Taxes, between Brazil and the U.S. by Brazilian Federal  Senate last March 07th.

This kind of agreement is fundamental in combating fraud and tax evasion and also “aggressive” or “abusive” tax planning.

Additionally are valuable tools aids in the “fight” against organized crime and money laundering.

This agreement follows the worldwide trend towards greater collaboration among the governments of the countries in the field of taxation, especially to accompany the globalization of business and the mobility of capital, people and services.

Besides the agreement with the U.S., Brazil recently signed agreements with the same purpose with the United Kingdom, Uruguay and will sign in the coming weeks with the Cayman Islands.