EU and Mercosur reach agreement on trade

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The European Union and Mercosur reached today a political agreement for an ambitious, balanced and comprehensive trade agreement. The new trade framework – part of a wider Association Agreement between the two regions – will consolidate a strategic political and economic partnership and create significant opportunities for sustainable growth on both sides, while respecting the…

Brazil green lights tax exemption on electric, hybrid vehicles

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Companies and professional drivers in Brazil are now exempt from IOF tax when financing the purchase of electric and hybrid vehicles in the country, regardless of horsepower. This is according to new legislation signed by President Jair Bolsonaro last week and published on Friday (June 21). It compliments a law already giving the IOF tax…

Argentina raises tax rebate for Mercosur auto exports as market stalls

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BUENOS AIRES, May 8 (Reuters) – Argentina will give its auto exporters a larger tax rebate to help stimulate the flagging local sector that has been hit hard by a consumption slump and economic crisis in Latin America’s No. 3 economy. The country’s ministry of labor and production said on Wednesday that it would raise…

Brazil Tax Review April 2019

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Important Developments in Brazil’s Double Taxation Convention (DTC) Network There have been important Developments in Brazil’s DTC network in the last month. In a nutshell, Brazil and Poland are negotiating a DTC aiming to facilitate trade and economic relations between the countries, which currently face obstacles. Moreover, Brazil and Chile are revising their DTC in…

Brazil – Taxation Overview

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Legislation What is the relevant legislation relating to tax administration and controversies? Other than legislation, are there other binding rules for taxpayers and the tax authority? The Brazilian tax system is established by the Federal Constitution, which describes, in a very detailed manner, all collectable types of tax and the related federative entities entitled to…