Brazil, India and South Africa sign tax and customs cooperation agreement
30-Apr-2008Brazil, India, and South Africa signed a technical cooperation agreement in the areas of taxation and customs during the second annual India-Brazil-South Africa (IBSA) Dialogue Forum in Pretoria on 17 October 2007.
According to Brazil's Federal Revenue Department, the agreement covers:
- Exchange of information;
- Risk management by tax and customs administrations;
- Development of human resources;
- Tax control and review of the business units of large taxpayers;
- Transfer pricing and customs valuation;
- Cooperation in information technology;
- A coordinated approach by the three countries in international forums;
- Establishment of authorised economic operators for international trade.
The three countries have initiated discussions to define goals and a schedule for implementing technical cooperation, as IBSA members are in different stages of development regarding tax and customs administration.
IBSA was formed after discussions between the heads of state and/or government of the IBSA countries at the G-8 meeting in Evian in 2003. It describes the group as "a trilateral developmental initiative between India, Brazil, and South Africa to promote ... cooperation and exchange."
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