Brazil leaves interest on net equity rules unchanged

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March 2016


The Brazilian Senate confirmed on March 9, 2016 that Provisional Measure 694/2015 expired as of that date and will not be converted into law. PM 694 would have added a new deductibility limit for interest on net equity (INE) for Brazilian income tax and social contribution tax purposes and increased the income tax withholding rate on INE payments to certain non-resident shareholders.

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John A. Salerno

Latin American Tax Group, PwC US

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