Government officials from the United States and Brazil have confirmed that there is mutual interest in exploring the possibility of a bilateral tax treaty.
The main proponent of the idea, US Senator Richard Lugar, has pointed out that the introduction of a tax treaty between the two countries would allow companies in both regions to benefit further from the extensive economic relationship they already have.
According to the Senator, a tax treaty would support economic growth by creating more jobs and making businesses in the North and South of America more competitive.
At present, the US is Brazil's largest direct investor.
The formation of a tax treaty between the regions is now expected to be a top priority for the US-Brazil CEO Forum.
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