Brazil Gazettes Normative Instruction Amending Lists of Jurisdictions With Favorable Taxation, Privileged Tax Regimes

The Brazilian Official Gazette May 13 published Normative Instruction No. 2265, amending lists of jurisdictions with favorable taxation or privileged tax regimes. The normative instruction includes measures: 1) removing the United Arab Emirates from the list of jurisdictions with favorable taxation; 2) removing the Austrian tax regime for holding companies from the list of privileged tax regimes; and 3) amending the list of jurisdictions with favorable taxation to apply to those that don’t tax income, that tax it at a rate under 17 percent, or that have domestic legislation that doesn’t permit access to information on the corporate structure of ...