Brazil has published Normative Instruction No. 1870 of 29 January 2019, which amends regulations for various aspects of Brazil's transfer pricing regime provided under Normative Instruction No. 1312/2012. One of the main aspects is the timing for the calculation of benchmark prices when using certain transfer pricing methods. This includes:
- When using the comparable independent (uncontrolled) price method (PIC), production cost plus profit method (CPL), or import price quotation method (PC…