Brazil's Characterization As a "Tax Heaven" Taking Into Account the International Transparency Rules and the Ruling About the Constitutionality of Complementary Law nº 105/2001

Abstract

The protection of financial secrecy aspect is of great importance within the national legal system , as both are defined as immutable clauses in the 1988 Constitution . This protection triggers major legal argument when confronted with LC nº. 105 / 01, mainly eat the rules for obtaining information on banking transactions by the Treasury. The great importance that this information exchange currently has on the world stage , is under discussion in the five ongoing direct action of unconstitutionality in the Supreme Court , and the issue has gained momentum with the implementation of FATCA legislation in our legal system. The outcome of the trial will put Brazil in a peculiar position within the international context that supports and recommends the possibility of exchange of information between tax authorities and financial institutions , the country can be characterized as a privileged tax regime or even as a tax haven is the applied rules advocated by the OECD