Accounting: Deductibility and recognition of financial income - Determination of taxable income

PORT. MF No. 427, FROM 07/30/2013

Provides for the deductibility and the recognition of financial interest income, in transactions with related persons, for purposes of calculating the real profit, according to the transfer pricing rules.

THE MINISTER OF STATE OF FARM, in the use of the powers conferred on him by items II and IV of the sole paragraph of art. 87 of the Federal Constitution, and in view of the provisions of art. 22 and 28 of Law No. 9,430, of December 27, 1996, and in art. 5, of Law No. 12,766, of December 27, 2012, Resolve:

Art. 1st As of January 1, 2013, the percentage margins as a spread to be added to interest rates for the purpose of deducting financial expenses in determining the actual profit and the CSLL calculation base, in operations with linked or in transactions with residents or domiciled in a country with favorable taxation will be 3.5% (three and a half percent).

Art. 2nd The percentage margins as a spread to be added to interest rates for the purpose of recognizing the minimum amount of financial income, in determining the real profit and the CSLL calculation base, in operations with related companies or in operations with residents or domiciled in a country with favorable taxation, it will be 2.5% (two and a half percent), regardless of the operation.

Sole paragraph. The percentage margins as a spread referred to in the caput will be zero percent for operations that took place between January 1, 2013 and the date of publication of this Ordinance.

Art. 3º This Ordinance comes into force on the date of its publication.