Transfer pricing adjustments that a Brazilian importer records at year-end are no longer a matter exclusively under the Income Tax code. With the Normative Instruction of the Brazilian Federal Revenue Service (IN RFB) No. 2,326, dated May 20, 2026, published in the Diário Oficial da União on May 26, Brazilian customs incorporated into its valuation regulations two case studies from the World Customs Organization (WCO) that directly link Transfer Pricing analysis to customs value. For those managing Transfer Pricing in Brazil, the 2026 fiscal year-end is the first in which this interaction must be assessed under the new regulation now in effect.
The practical question is specific: if a Brazilian subsidiary pays its foreign affiliate an upward compensatory adjustment in December, does that amount form part of the price paid for the imported goods?
What did IN RFB 2.326/2026 introduce?
IN RFB 2.326/2026 amends IN RFB No. 2.090/2022, which regulates the declaration and control of the customs value of imported goods. Its annex incorporates instruments approved by the WCO Technical Committee on Customs Valuation: Explanatory Note 7.1, Advisory Opinions 26.1 and 27.1, and Case Studies 14.3 and 14.4.
The regulation does not modify the transfer pricing rules of Law No. 14,596/2023 or IN RFB No. 2,161/2023. What does change is the way in which customs authorities may interpret transfer pricing documentation when examining whether the relationship between the buyer and seller influenced the price, in accordance with Article 1.2(a) of the World Trade Organization’s Agreement on Customs Valuation (ACV, by its Portuguese acronym).
What happens when the analysis shows a result outside the range?
Case Study 14.3 describes an importer that purchases auto parts from its foreign affiliate, using a policy based on the Cost Plus Method. The supplier’s weighted average cost was 15.00 monetary units, but the declared price was 13.00. The exporter reported a gross loss, and the calculated indicator fell outside the interquartile range of comparable transactions, with no adjustment made.
Based on this information, customs concluded that the related-party relationship had influenced the price and rejected the transaction value. It ruled out the methods set forth in Articles 2, 3, 5, and 6 of the AVA and determined the value pursuant to Article 7, based on the cost of 15.00 plus a margin, freight, and insurance.
The implication for the taxpayer is clear: a transfer pricing study that documents a result outside the range, without a subsequent adjustment, can serve as evidence for customs to reject the declared value.
When is a compensatory adjustment included in the price paid?
Case Study 14.4 involves a distributor of luxury handbags that uses the Resale Price Method. Its target gross margin was 40%, within a range of 35% to 46% under perfect competition. In 2023, its actual gross margin was 64%, indicating lower-than-expected import prices.
Before the close of the fiscal year, the distributor made a compensatory adjustment in favor of its related party, formalized via a debit memo and recorded in the books. The adjustment increased the total price of imports for the fiscal year, and the importer paid the corresponding customs duties. With the adjustment included, customs accepted the transaction value.
There are two limitations to this case that should not be overlooked. It addresses only upward adjustments, not downward adjustments. Furthermore, it leaves it up to each jurisdiction to define the procedures and requirements for recognizing the adjustment in the customs value.
Is there an automatic link between the two tax regimes?
No. Article 51 of IN RFB 2.161/2023 provides that voluntary or compensatory adjustments “shall not automatically result in adjustments to the tax base for other taxes, including those related to imports.” Each tax must be determined in accordance with its own legislation.
For its part, Law No. 14,596/2023 defines a compensatory adjustment as one made by the parties to the controlled transaction by the end of the calendar year in which the transaction took place (Article 17, subsection II). RFB Instruction No. 2.161/2023 requires, in Article 50, that the adjustment be recorded symmetrically and definitively in the accounting records of both parties, supported by debit or credit notes or other documentation identifying the controlled transactions to which it refers. It also allows the adjustment to be made up until the submission of the Tax Accounting Record (ECF, by its Portuguese acronym), provided it is recorded in the accounting records for the year of the transaction.
The result is that income tax and customs remain separate tracks. IN RFB 2.326/2026 does not combine them, but it does open the door for documentation from one track to be used as evidence in the other.
What changes for the close of fiscal year 2026?
For a related importer, the year-end adjustment is no longer a decision that affects only corporate income tax and the social contribution on net income. If the adjustment is upward and is formalized as in Case 14.4, it may be included in the price actually paid and affect the tax base for import taxes. If the adjustment is not made and the result falls outside the range, the scenario is similar to that of Case 14.3.
The regulation leaves open questions that each company must analyze based on its specific circumstances. Among these are how to allocate the adjustment to the fiscal year’s import declarations and what customs treatment applies to a downward adjustment—neither of which is addressed in either of the two cases. For this reason, the drafting of intra-group contracts and consistency between the transfer pricing study, accounting, and customs declarations take on greater importance than before.
At TPC Group, we evaluate—in every analysis of year-end compensatory adjustments in Brazil—the effect that the adjustment has on both the income tax base and the customs value of the related imports. Our objective is to ensure that the transfer pricing documentation consistently supports both positions before the Brazilian Federal Revenue Service (Receita Federal do Brasil).