Update: Switzerland and Brazil double taxation agreement

05/Mar/2020 - Economy -

The plenary session of the Chamber of Deputies approved 11 international agreements signed by the Brazilian government in the areas of taxation, aviation, defense, visa exemption and assistance to refugees. The texts approved on Thursday (5) continue for analysis by the Senate.

Agreements were approved with Singapore (PDL 203/19), Switzerland (PDL 650/19) and United Arab Emirates (PDL 667/19) to eliminate double taxation of income (ADTs). These agreements are intended to prevent profits, dividends, royalties and other income received by a person or company from being taxed in two nations, preserving the power of the country where the income originates from taxing it at source.

The ultimate goal is to improve the business environment between the nations involved. Currently, Brazil has similar agreements with 34 countries, according to the Ministry of Foreign Affairs.

Read full article in Portuguese here.

Source: AgĂȘncia CĂąmara de NotĂ­cias