Lodi Valley News.com

Complete News World

Acordo entre Brasil e Reino Unido busca ampliar fluxos bilaterais de comércio e investimento

Agreement between Brazil and United Kingdom seeks to expand bilateral trade and investment flows – Português (Brazil)

The governments of Brazil and the United Kingdom signed a Double Taxation Agreement (DTA) on Tuesday (11/29), an instrument aimed at combating income taxes and tax evasion and avoidance. Through this, legal certainty is sought and an increase in bilateral trade and investment flows is encouraged.

Julio César Vieira Gómez, Special Secretary of the Federal Revenue, said, “The ADTs signed by Brazil are examples of the company’s efforts to expand the network of tax treaties in the country, which is important for Brazil’s accession process to the OECD. The RFB is in talks with other major world economies.

The United Kingdom is the 26th member state to sign this convention, in line with Brazil’s efforts to expand the network of agreements to avoid double taxation, particularly with member countries of the Organization for Economic Co-operation and Development (OECD). Brazil is a signatory to this type of international agreement. Furthermore, the negotiated TCA adheres to the OECD Model Convention and is linked to the OECD’s “Tax Base Erosion and Profit Shifting Program” (BEPS Program). All these characteristics contribute positively to the process of joining the company in Brazil.

Composite construction

“It’s a job involving many hands, many contributions within and outside the Ministry of Economy,” said Secretary Julio Cesar. He pointed out that the globalization of the economy had consequences in various fields, including the coexistence of legal systems and, in particular, the tax systems of countries. In commercial relations – the secretary emphasized – this often creates double taxation and, on the other hand, non-double taxation. “Countries interested in maintaining their investment potential and attractiveness are seeking to sign agreements that reduce or eliminate this double taxation,” he said. “This ADT that we are signing today aims to reduce this effect and have consequences at the expense of Brazil”.

See also  The United States is investigating cases in the UK

According to Julio Cesar, the ADT signed with the United Kingdom meets the demands of companies representing the Brazilian private sector. “I believe that the signature of this convention plays an important role in increasing trade and investment, attractiveness, competitiveness of Brazilian products, legal protection and long-term stability,” he stressed.

According to Central Bank data, Brazilian investments in the United Kingdom totaled US$5.2 billion in 2020, with Brazil the destination of British investments in the order of US$25.2 billion. In turn, according to data from the Foreign Trade Secretariat of the Ministry of Economy, the trade flow between the countries reached 5.6 billion US dollars in 2021.

priority

The signing ceremony of the ADT agreement with the United Kingdom was attended by Melanie Hopkins, Acting Ambassador of the United Kingdom in Brazil, Marcelo Guaranis, Executive Secretary of the Ministry of Economy, and Julio Cesar Vieira Gómez, Special Secretary of the RFB. , in addition to representatives of the Ministry of Foreign Affairs and the Special Secretariat for Foreign Trade and International Affairs (Secint) of the Ministry of Economy.

“This agreement will significantly increase trade between our countries, attract investment and strengthen trade relations between Brazil and the United Kingdom,” said Ambassador Melanie Hopkins. There is a DTA. This is a priority for the UK and we are here to address it,” he added.

Secretary Marcelo Guaranís emphasized that the signing of the agreement was a historic event and recalled some of the key moments of its preparation that began in June. According to Guaranys, this speed in ADT’s construction process demonstrates the effort of all bodies involved in the work. The Secretary highlighted the participation of RFB and Itamaraty and thanked the British Embassy. “England has been a lifelong partner. You and your predecessors have helped us greatly to bring about cultural change”, he said, addressing Ambassador Melanie Hopkins, and noted cost containment, regulatory development and alignment with the OECD in assessing British cooperation for Brazilian developments.

See also  In the UK, 32,406 new cases and 133 deaths were reported in 24 hours

with the information that IRS🇧🇷