Brazil Withdraws Payroll Tax Cuts In a key policy this year, the Brazilian government has concluded that in order to meet the fiscal target of this current year and maintain balanced accounts, they must cut R$42.1 billion from their planned expenses in 2017. This will impact almost all major multinational companies operating in Brazil. This…
Brazil Tax System: Grey and Black List Brazil’s tax authorities have clarified the definition of substantial economic activities, which it uses to determine if a jurisdiction should be deemed to have a privileged tax regime. The clarification came in the normative ruling (NR 1,658/16) published September 2016. Countries deemed to have a privileged tax regime are included on…
Brazil: New Capital Gains Tax Rates from 2017 Brazilian tax authorities (RFB) have clarified that the new capital gains tax rates will apply from January 1, 2017. Brazil had converted the Provisional Measure 692/2015 (PM 692) into Law 13,259 in March earlier this year. The law increased the capital gains tax rates to: 15% on…
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