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US Signs Tax Information Sharing Agreement With Brazil

by Mike Godfrey, Tax-News.com, Washington

03 April 2007


The United States Treasury Department has announced that Clifford M. Sobel, US Ambassador to Brazil, and Jorge Rachid, Secretary of the Receita Federal of Brazil, have signed a Tax Information Exchange Agreement (TIEA) between the two countries.

The agreement, signed in Brasilia on March 20, establishes the means by which the tax authorities of the United States and Brazil may exchange information for the purpose of facilitating the administration of both countries' tax systems.

"The United States and Brazil are very interested in building on the progress embodied by the TIEA," said Ambassador Sobel. "Both countries are committed to working together to try to find ways of reaching our ultimate objective of overcoming the tax policy differences that have prevented the conclusion of a bilateral tax treaty in the past."

The governments of both countries said they hope that the signing of the TIEA will be the first step to developing a deeper bilateral tax relationship between the United States and Brazil.

The Treasury Department and the Brazilian Secretaria da Receita Federal initiated informal discussions in 2006 to exchange views on a number of aspects of tax treaty policy, including transfer pricing, permanent establishment, the taxation of income from services and mutual agreement procedures.


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