U.S., Brazil Sign Tax Information Exchange Agreement

On March 30, 2007, the U.S. Treasury Department announced the signing on March 20, 2007 of a tax information exchange agreement (TIEA) with Brazil. The agreement is a standard TIEA. Most importantly, the two signatories issued a joint statement saying that, while policies diverge on a number of important areas of tax treaty policy and make concluding a mutually acceptable tax treaty difficult, they hope that the TIEA will be the first step to developing a deeper bilateral tax relationship between the U.S. and Brazil ... [more]