Published Brazilian PTO’s Normative Instruction 070/2017 which deals with technology transfer contracts

13/04/2017 - Published Brazilian PTO’s Normative Instruction 070/2017 which deals with technology transfer contracts

It was published the Brazilian PTO’s Normative Instruction 070/2017, which deals with technology transfer contracts.

The major change refers to the analysis of tax and exchange issues for the purposes of controlling remittances and deductibility, which used to be done by the Brazilian PTO, but now will be returned to the originating bodies, Central Bank and IRS. The formal analysis will continue to be made by the Brazilian PTO.

In other words, the Brazilian PTO will only analyze if the subject matter of the agreement is to be recorded by the Brazilian PTO and if the agreement covers issues related to technology transfer, license of trademarks, patents and industrial designs and if the corresponding applications and / or registrations were filed at the Brazilian PTO.

The Normative Instruction 070/2017 will become effective as of July 1, 2017.