Normative Instruction N.º 1.312/2012: Regulating The New Transfer Pricing Rules Introduced By Law N.º 12.715/12

Keywords: Internal Revenue Service, Brazil, transfer pricing control, PIC

The Internal Revenue Service of Brazil, through Normative Instruction n º 1.312/12 published in the Official Gazette on December 31, 2012, regulated the transfer pricing control applicable to entities engaged in import and export transactions of goods, services and rights with related parties resident overseas, as well as on international transactions carried out with individuals or legal entities, whether related or not, located in the so-called tax havens, privileged tax regimes and countries that do not disclose information on the shareholding of resident companies, in view of the recent changes introduced by Law No. 12.715/12.