Economy minister Guedes’ plan to accelerate Brazil’s accession to the OECD

Economy Minister Paulo Guedes is preparing a bill to amend the taxation of multinational companies in Brazil.

Technicians from the Ministry of Economy are currently working on the details of the project, which will be presented to the National Congress on May 5.

The project aims to avoid double taxation of foreign companies in Brazil. It is one of the main points for Brazil to consolidate its accession to the Organization for Economic Cooperation and Development (OECD).

The issue was the focus of talks between Minister Guedes and U.S. Treasury Secretary Janet Yellen, which took place on Wednesday, May 28.

Guedes and Yellen held a series of meetings to achieve convergence on the principles that the country must adopt to join the group.

Internally, Guedes and the ministers of Foreign Affairs, Carlos França, and Interior, Ciro Nogueira, set the deadline for sending the progress of 229 measures that the United States expects for the country to join the OECD.

The ministry members say Brazil is ahead of other contenders to join the bloc.

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