Keywords: income tax rate, tax havens, Brazil, Ordinance No. 488,

Ordinance No. 488, published in the Official Gazette on December 1, reduced to 17 percent the tax rate threshold for purposes of classifying a country as a favorable taxation jurisdiction (tax haven), according to Articles 24 and 24-A of Law No. 9,430/96. The previous tax rate threshold was 20 percent.

Originally published December 2, 2014

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