Brazil Transfer Pricing Revamp a ‘Positive’ Step, Treasury Says

A new transfer pricing system in Brazil that aligns the country with global norms is a “positive development,” a US Treasury official said Thursday.

“The transfer pricing rules over the years have been a hurdle when companies have come to us to ask if we would do negotiations with Brazil,” said Elena Virgadamo, deputy international tax counsel for treaty affairs at Treasury, said during a conference in Washington hosted by George Washington University and the IRS.

Brazilian President Luiz Inácio Lula da Silva signed into law in June legislation that would align the country’s transfer pricing system with ...