Ongoing Approval of International tax agreement between Brazil and Switzerland
The Chamber of Deputies approved Bill of Law 486/16 yesterday which is related to an international agreement to facilitate tax information between both countries. According to the bill, they must assure that government authorities can obtain and furnish information from banks, financial institutions or any agency representative as “nominees “ or “trustees”.
The competent authority requested shall provide the information within 90 days or otherwise inform of any reasons or obstacles found.
This measure aims to tackle fraud and tax evasion.