Bill Overhauling Brazil’s Transfer Pricing Rules Signed Into Law

President Luiz Inácio Lula da Silva has signed Brazil’s transfer pricing overhaul into law.

The change brings Brazil in line with global norms for the rules governing how companies value transactions between their related entities—a help to many multinationals operating there.

The measure was signed into law Wednesday after it passed the Senate in May and the Chamber of Deputies, Brazil’s lower house, in March. The law was published in the federal government’s official daily gazette Thursday.

• The rules become mandatory in 2024, but companies may choose to apply them in 2023.
• In the long run, the ...