The Tax & Investment policy agenda aims to enhance bilateral investments between Brazil and the United States by means of facilitating cross-border investments and reducing the cost of doing business for foreign companies.
The Council is working on the following agenda:
- Support tax simplification reforms in Brazil to reduce the complexity and cumulative nature of federal, state, and municipal tax systems to reduce costs for enterprises and improve legal certainty.
- Support reform of the current PIS/COFINS legislation in Brazil, reiterating the importance of ensuring tax neutrality for taxpayers.
- Endorse resuming formal negotiations between Brazil and the U.S. on a bilateral tax treaty that would eliminate double taxation and/or taxes on royalties, interest, and dividends.
- Recommend terminating the uncertainty of the so-called tax war among Brazilian states with new legislation that ensures predictability, protects past benefits already granted for the industry, and provides clarity on the concession of benefits.
- Promote efforts to harmonize the value-added tax (VAT), known in Brazil as the Tax on Operations Related to the Circulation of Goods and Services of Inter-Municipal Interstate Transportation and Communication (Imposto Sobre Operações Relativas à Circulação de Mercadorias e Serviços de Transporte Interestadual de Intermunicipal e de Comunicações–ICMS).
- Support Brazil’s adoption of the Organisation for Economic Co-operation and Development (OECD) investment principles.
- Support congressional action to loosen restrictions on rural land ownership as a means to economic growth in Brazil.
- Recommend that the Brazil and U.S. governments move forward with discussions on a Bilateral Investment Treaty (BIT), soliciting feedback from the private sector.
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