Switzerland and Brazil have signed a tax information exchange agreement (TIEA) at Brasilia on 23 November 2015.
The agreement, which is subject to an optional referendum in Switzerland, will facilitate the exchange of information with respect to taxes.
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The information to be exchanged will include data that is relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims or the investigation or prosecution of tax matters.
Swiss Federal Council said that Switzerland will be permanently removed from Brazil’s blacklist of countries with an insufficient exchange of tax-related information.
The pact will provide Swiss companies operating in Brazil greater legal certainty and investment security.
The TIEA will come into effect upon completion of their respective domestic procedures for ratification.
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