On 14 July 2015, Brazil published Private Ruling 176/2015 in the Official Gazette. The ruling clarifies that use of the price under import quotation (PCI) and price under export quotation (PECEX) methods is required for:

• Products listed in the commodities and futures exchanges that are listed in Appendix II of Normative Instruction RFB 1,312/2012; and
• Products listed in Appendix I of RFB 1,312…