Brazil Reduces Maximum Income Tax Rate for Other Countries To Be Considered Favorable Tax Havens
2 December 2014
Tauil & Chequer Legal Update
Ordinance No. 488, published in the Official Gazette on December 1, reduced to 17 percentthe tax rate threshold for purposes of classifying a country as a favorable taxation jurisdiction (tax haven), according to Articles 24 and 24-A of Law No. 9,430/96. The previous tax rate threshold was 20 percent.