Brazil Seeks Input on Transfer Pricing in Commodity Transactions

Brazil opened a public consultation on an amendment to transfer pricing rules that would address provisions for the registration of controlled commodity transactions.

Receita Federal, the country’s revenue authority, announced the consultation Wednesday on an amendment to Normative Instruction RFB No. 2,161 of 2023.

• The new rules require taxpayers to register controlled commodity transactions and declare information. They also include consequences for noncompliance.
• The consultation ends Dec. 12.
• Brazil adopted new transfer pricing rules last year, effective this year, bringing its transfer pricing regime in line with OECD standards and adopting the arm’s length ...