Brazil Issues Normative Instruction on Certain Transfer Pricing Matters

Brazil has published Normative Instruction No. 1870 of 29 January 2019, which amends regulations for various aspects of Brazil's transfer pricing regime provided under Normative Instruction No. 1312/2012. One of the main aspects is the timing for the calculation of benchmark prices when using certain transfer pricing methods. This includes:

• When using the comparable independent (uncontrolled) price method (PIC), production cost plus profit method (CPL), or import price quotation method (PC…