Skip to content
International Adviser
  • Contact
  • Subscribe
  • Regions
    • United Kingdom
    • Middle East
    • Europe
    • Asia
    • Africa
    • North America
    • Latin America
  • Industry
    • Tax & Regulation
    • Products
    • Life
    • Health & Protection
    • People Moves
    • Companies
    • Offshore Bonds
    • Retirement
    • Technology
    • Platforms
  • Investment
    • Equities
    • Fixed Income
    • Alternatives
    • Multi Asset
    • Property
    • Macro Views
    • Structured Products
    • Emerging Markets
    • Commodities
  • IA 100
  • Best Practice
    • Best Practice Awards
  • Media
    • Video
    • Podcast
  • Directory
  • My IA
    • Events
    • IA Tax Panel
    • IA Intermediary Panel
    • About IA

ANNOUNCEMENT: Read more financial articles on our partner site, click here to read more.

Brazil unveils changes to tax rules

By Fiona Nicolson, 17 May 23

Trusts included for the first time

The Brazilian government has published plans to introduce tax changes, including the taxation of tax residents’ foreign income, covering investments, controlled entities and trusts.

The taxation of foreign trusts is a new feature of the Brazilian tax system, according to law firm, Baker McKenzie.

“Since the trust is not an institute recognised by the Brazilian legal system, there was no tax regulation on this matter before and, therefore, there were many doubts regarding the taxation of Brazilian individuals involved in trusts,” the firm commented.

Baker McKenzie also pointed out that the proposed changes do not distinguish between revocable and irrevocable trusts, requiring a case-by-case approach.

Brazilians will now be taxed on a sliding scale of rates, up to 22.5%, on earnings and income from investments held abroad and on profits from foreign-controlled entities. Deductions will not be permitted.

The new rules are expected to take effect from 1 January 2024.

Tags: Baker & Mckenzie | Brazil | Wills And Trusts

Share this article
Follow by Email
Facebook
fb-share-icon
X (Twitter)
Post on X
LinkedIn
Share

Related Stories

  • Two business people connecting jigsaw puzzle pieces, cooperating and finding solution. Flat design vector illustration

    Companies

    Oakglen Wealth set to enter financial planning market as Aurea deal approved

    Latin America

    VIDEO: Lorenzo La Posta – Momentum: Where are markets heading next?

  • Latest news

    JTC bolsters LatAm business development team with four hires

    Companies

    Pacific Asset Management opens LatAm office


NEWSLETTER

Sign Up for International
Adviser Daily Newsletter

subscribe

  • View site map
  • Privacy Policy
  • Terms and Conditions
  • Contact

Published by Money Map Media – part of G&M Media Ltd Copyright (c) 2024.

International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser. Site managed by Furness Media