Brazil has implemented the exchange of information on tax rulings in line with the recommendations of BEPS Action 5. Regulation for the exchange of tax rulings is provided in Normative Instruction No. 1689/2017, which amends Normative Instruction No. 1396/2013 on the consultation process for taxpayers to obtain a tax ruling. The amendments provide that where a taxpayer engages in the consultation process to obtain a ruling, the taxpayer must provide certain information if the consultation co…