OrbitaxBrazil Introduces New Tax Planning Disclosure Requirement and Tax Litigation Reduction Program
|Approved Changes|Brazil
On 22 July 2015, Brazil published Provisional Measure (PM) 685 2015 in the Official Gazette. PM 685 introduces a new requirement that corporate taxpayers disclose tax-planning schemes, and establishes the Program for Reduction of Tax Litigation (PRORELIT), a special program to resolve tax disputes.
Reporting Requirement
With the new tax-planning scheme reporting requirement, taxpayers must di…
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