The UK and Brazil have recently signed a Double Taxation Agreement (DTA). The Agreement will provide relief from the double taxation of income in both countries and is a significant development in the trade relationship between them both and shows a positive response to demands from business in both countries
The main benefits of the agreement are:
• Provide tax certainty and predictability to business, facilitating long-term investments.
• Help tackle tax evasion by providing for the exchange of information between the two countries.
• Intensify trade and investment between Brazil and the UK, strengthening the bilateral relationship.
The DTA brings benefits for the British and Brazilian economies. It will ensure that their businesses encounter fewer economic and administrative obstacles when doing business in the other country and reduce the costs of doing so.
As a result, UK anticipates that the Brazilian market will become a more attractive place for the British business community and will also encourage Brazilian investment in the UK.