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By Daniel Lima

It was published in the Official Journal of the Nation of Brazil, the Legislative Decree approving the text of an agreement between the governments of Brazil and the U.S.A. to exchange tax information, which was firmed between the two countries on March 20th, 2007.

As reported by the Revenue after being sanctioned by the President Dilma Rousseff, the agreement will allow the U.S. tax authorities make inquiries about the U.S. citizens who are in Brazil and also with the Brazilian citizens in that country.

The adoption of the text is an old demand of the Revenue, which will oversee best the Brazilian companies in the United States and even combat money laundering.

Such agreements are common among member countries of the Organization for Economic Cooperation and Development (OECD), which had been charging Brazilian participation, informed the Revenue.

According to this decree, any acts that may result in a review of the agreement shall be subject to approval by the National Congress.

Source: Agência Brasil
Version: Grazielle Segeti



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