Copying and distributing are prohibited without permission of the publisher

Brazilian update: Brazil simplifies foreign exchange controls

11 April 2005

Brazil has been known for decades to have had strict foreign exchange controls

Brazil has been known for decades to have had strict foreign exchange controls. The government, through the Central Bank of Brazil, has maintained the exchange controls by restricting access to the commercial exchange market to individuals and companies engaged in international trade transactions, repatriation of capital, remittances of dividends, profits, royalties and service fees. Failure to comply with the exchange controls has, as a general rule, precluded the Brazilian payer from making remittances abroad in foreign currency.

On March 4 2005, the National Monetary Council (CMN) of the Brazilian Central Bank issued resolutions 3265 and 3266 setting forth important modifications to the Brazilian exchange market. According to the president of the Central Bank, the changes will turn the Brazilian exchange market into a more flexible one and, consequently, make the Brazilian market more...



This article is locked content, available to current subscribers or trialists.

  • Current subscribers or trialists - Please log in to view this article in full.
  • New users - Please take a free 7 day trial.
  • Expired subscribers or trialists - Please subscribe to gain immediate full access.

If you think you've received this message in error, please contact your account manager, Nick Burroughs:
Email: nburroughs@euromoneyplc.com, Tel: +44 (0)207 779 8379

Subscribe now

Subscribe today to gain full access to International Tax Review.

Subscribe

Free trial

Take a free trial now and gain 7 days of full access to International Tax Review.

Free trial





International Tax Review Profile

RT @AislingTax: @Ralph_Ire I know Reuters are great. But on Tax you're way better (at least for us nerds). Can you help set them straight? …

Jul 30 2015 08:29 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @AislingTax: @padraichalpin @ReutersDublin "IBEC not up to speed with global tax developments" may have worked better as a headline?!

Jul 30 2015 08:28 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @padraichalpin: Ireland says OECD rules limit scope of new corporate tax "knowledge box" scheme http://t.co/zmaQoGmpP8 via @ReutersDublin

Jul 30 2015 08:25 ·  reply ·  retweet ·  favourite
International Tax Review Profile

Our #ArticleOfTheWeek is available on our #facebook page for free http://t.co/7JkhGVMutQ

Jul 30 2015 09:42 ·  reply ·  retweet ·  favourite
International Tax Review Profile

A new Brazilian scheme which looks a lot like the UK's #DOTAS requires taxpayers to disclose details of #tax planning http://t.co/Xjpfnz3NLG

Jul 28 2015 05:52 ·  reply ·  retweet ·  favourite
International Correspondents

After the Irish budget, what would make you more likely to put more substance into Ireland?