Brazil: Inclusion of Switzerland and the Netherlands as Tax Haven and Fiscal Privileged Regime is Suspended by Brazilian Revenue Office

Originally published July 7, 2010

Keywords: tax havens, fiscal privileged regimes, NR 1.045/10, Brazilian Federal Revenue Office,

On June 24, 2010, the Normative Ruling nº 1.045 (NR 1045/10) was published, which allows jurisdictions listed as tax haven or fiscal privileged regimes to review their inclusion in the list. The list under review was issued in Normative Ruling nº 1.037, on June 7, 2010 (NR 1037/10).

Thus, based on the provisions of NR 1.045/10, the Governments of Switzerland and the Netherlands, that were included as tax haven and fiscal privileged regimes, respectively, filed a request before the Brazilian Federal Revenue Office to review their inclusion. As a consequence, Switzerland and the Netherlands may be excluded from the list of tax havens and fiscal privileged regimes.

Meanwhile the requests are still pending for analysis by the Brazilian Federal Revenue Office, the inclusion of Switzerland and the Netherlands as a tax haven and fiscal privileged regime is suspended, as per the provisions of the Executive Declaratory Acts 10 and 11, enacted on June 24, 2010.

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