A Tax Information Exchange Agreement (TIEA) between the United Kingdom and Brazil was signed in Brasilia on 28 September 2012. Lord Green, Minister of State for Trade and Investment, signed on behalf of the UK. Carlos Alberto Freitas Barreto, Secretary of Receita Federal (Brazilian Tax Authority), signed on behalf of Brazil.
The new TIEA with the Brazil will enable the UK and the Brazil to exchange information to OECD and international tax standards to ensure that the right amount of tax is paid in each country in the future.
The text of the TIEA can be accessed on the HM Revenue & Customs website at: Tax Information Exchange Agreements signed/not in force
The text will shortly be laid as a Schedule to a draft Order in Council for consideration by the House of Commons. It will then also be available from the Stationery Office.
The Agreement will come into effect as soon as each government has completed the necessary procedures to give effect to it under its domestic laws.October 2012