Exclusive-Brazil to establish tax advisory office in China amid deepening ties.
Brazil will establish a tax advisory office in China, the Brazilian Finance Ministry said, highlighting the strategic importance of the move as the two nations deepen their ties.
The decision underscores Brazil’s growing focus on its relationship with China, its largest trading partner, as tariffs introduced by U.S. President Donald Trump escalate global tensions.
The move coincides with mounting trade tensions between the U.S. and Brazil, after Trump linked fresh 50% tariffs on Brazilian imports to the prosecution of his ally and former President Jair Bolsonaro, leaving limited options for Latin America’s largest economy to negotiate a deal.
Tax advisory offices or attaches play a “strategic role” in international cooperation by exchanging information critical to combating tax and customs violations, the ministry said. They also provide technical guidance on Brazilian legislation to foreign investors and citizens abroad, helping to improve legal certainty and the business environment, it added.
While Brazil’s trade overtures to the U.S. have gone unanswered so far, relations with China have deepened.
Since taking office in 2023, leftist President Luiz Inacio Lula da Silva has met with President Xi Jinping three times. The two countries have also agreed to explore transportation integration, including a proposed bi-oceanic rail corridor linking Brazil to the Chinese-built port of Chancay in Peru.
Source: Financeyahoo
