The Committee on Economic Development, Industry and Commerce approved on Wednesday (4th) the Complementary Bill 497/09, which authorizes the Executive branch to provide regularly data on the operations of import and export which may substantially change the competitive conditions of the market.

The proposal, drafted by a special commission to assess the effects of the financial crisis on the domestic industry, aims to curb the dumping that occurs through imports of goods below the cost for entering the domestic market. This practice can destroy the conditions of competition of Brazilian companies, and once annulled the national production, the products come back to their normal prices.

For the rapporteur of the bill, Deputy Albano Franco (PSDB-SE), invoking the confidentiality of tax, the ministry prevents from being made public crucial information for the defense of competitiveness and for a healthy balance between free trade and domestic production.

Subject
He believes that the data required relate to purchase and sale operations already made, whose disclosure would not provide information that can clarify the tax situation of the importer, keeping the right of individuals and companies to their tax secrecy.

"Information relating to international trade transactions are not able, by themselves, to highlight the economic and fiscal situation of their holders, because they dont give elements to deduce the type and amount of journal entries and addressing the company's books," he said.

The proposal changes Laws 8884/94 and 5172/66. The first deals with the prevention and repression of violations against the economic order, such as dumping, and the second regulates the national tax system, setting the tax secrecy.

Procedure
The proposal has to be examined by the committees on Finance and Taxation; and Constitution and Justice and Citizenship. Then, it should be voted by the Floor.

Report - Marcello Larcher
Edition - Newton Araújo
Translation – Adriana Resende/RX