Brazilian Tax on Cars and Cards

I note that Brazil made its mark in international tax in two areas this month.

Firstly the EU announced it was going to the World Trade Organisation over alleged problems with high Brazilian import tariffs in the car sector, amongst others, which the EU says are discriminatory. What struck me about this was that since Brazil is such a big trading partner the EU now has to negotiate on equal terms with Brazil, and a good thing too.

Secondly, Brazil has imposed a much increased tax on overseas tourism spending by its citizens, charged and collected through the bank card and travellers’ cheque systems. The right or wrongs of the tax aside the clever part about its collection was using the payments system to do it.

The Parliamentary Public Accounts Committee this month lambasted HMRC over taking a soft approach with overseas multi-nationals making vast profits in the UK, which they collect through the payments system, but then not paying much or any UK tax.

Eamon McNicholas
Tax Barrister, Accountant

Advertisements

About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s