Brazil's Federal Senate approved Provisional Measure No. 1,152/2022 (MP 1,152) on May 11, 2023. It was previously passed by Executive Power and in force pending full congressional approval and potential changes. The Chamber of Representatives made only few changes to the original "bill of law," and the Senate did not make any change in the version approved by the Chamber. It is now pending ratification by the President of the Republic.
The subject of this article is transfer pricing in Brazil with a focus on financial transactions. The topic of financial operations was recently updated both in the Transfer Pricing Guidelines of the Organization for Cooperation and Development (OECD TPG), in 2020, and in the UN Practical Manual on Transfer Pricing for Developing Countries (UN Manual), in 2021, which was launched last year at the 22nd Session of the United Nations Committee of Experts on Taxation.
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