Brazil Gazettes Interpretative Declaratory Act on Tax Exemption Application for Retirement Income From Nonresident Institutions

The Brazilian Official Gazette Sept. 5 published Interpretative Declaratory Act No. 2, on applying the income tax exemption to retirement and pension income paid by nonresident institutions. The law includes measures: 1) explaining that the exemption doesn’t apply to retirement and pension income received by resident individuals that are at least 65 years old, provided that the income is paid by a nonresident institution; 2) explaining that retirement and pension income paid by a country that has a signed international treaty or convention with Brazil is subject to the provisions on pension payments and government payments; and 3) revoking Interpretative ...