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A source who has seen the draft law said it brings clarity on intangibles and other areas of TP including tax planning.
Lula’s victory in the presidential election could push back Brazil’s timeline for adopting TP guidelines, say sources from corporations and elsewhere.
Tax directors from three MNEs, including JTI, say the timeline of Brazil’s alignment with OECD standards depends on the upcoming presidential results.
Sources want Brazil’s TP regime to align internationally, as some local companies face high interest rates and taxation after continuous rises.