Brazil’s Transfer Pricing Reform Measure Passes Lower House

Brazil’s Chamber of Deputies approved a measure Thursday to overhaul its transfer pricing system, moving a step closer to final passage.

The measure passed the lower house by a vote of 380-10.

If it passes the Senate and is adopted, the measure would bring Brazil in line with OECD standards for transfer pricing—the way companies value transactions between related parties—after years as an international outlier on tax. Brazil began working on an update of its transfer pricing system as part of efforts to join the Organization for Economic Cooperation and Development.

The measure will next go to the Senate for ...