Normative Rule of the Federal Revenue of Brazil (“IN”) no. 1,458 was published on Mar. 18, 2014, responsible for including some provisions in IN no. 1.312/12, which provides for prices to be practiced in purchase and sale transactions of goods, services or rights carried out by an individual or legal entity resident or domiciled in Brazil with an individual or legal entity resident or domiciled abroad, considered to be related.
Among the changes, as to price adjustments, is the inclusion of costs for unloading at the port, internal transportation, storage, and of customs clearance, plus taxes and import duties, all in the market of destination of the assets. Such adjustment was included in the following methods (i) Compared Independent Prices (PIC); (ii) Price under Quotation at Import (PCI); and (iii) Price under Quotation at Export (PECEX).