Senate approves new criteria for classification tax havens

As approved in a terminating character, if there is no appeal, the PL will fly directly to the House.
18/08/2015 14h56 - Updated 18/08/2015 14h56
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New criteria for tax havens classification were approved on Tuesday (18) the Economic Affairs Committee (FALLS OFF) Senate.

the proposal, no longer be considered “tax haven” the country is not so identified, albeit with a different name, by body, entity or independent and internationally recognized. It will be up to the Executive to appoint one or more bodies for this certification.

“When a Brazilian company looking for Middle Eastern countries to expand their exports and thereby generate more opportunities here, it seeks to these countries because they have good markets. When this region is considered “tax haven”, this company will be taxed beyond their competitors and, consequently, will be deleted”, He explained the author of the proposed Senator Ricardo Ferraço (PMDB-ES).

Ferraço estimated that Brazilian law gives a more stringent tax treatment for transactions with tax haven countries, as tax shelters are also known, which are those that adopt a maximum tax rate of lower income 20%.

For or senator, the assumption that all countries adopt this tax are "tax havens" has led to distortions.

Among the examples given by Ferraço is Singapore, classified as a tax haven by Brazilian rules, but not by the United States and the European Union.

The same applies to Ireland and Luxembourg. The senator added that world bodies such as the Organization for Economic Cooperation and Development (OCDE) do not adopt minimum rate of taxation as a criterion to identify “tax haven".

As approved in a terminating character, if there is no resource for floor vote, o PLS 275/14 follow straight to the House of Representatives.


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