20221202-KPMG_Global-United_Kingdom_–_Double_Taxation_Convention_with_Brazil_Signed,_Not_Yet_in_Force_4页_302kb

The United Kingdom and Brazil signed a double taxation convention on November 29, 2022, aiming to prevent double taxation and simplify cross-border tax issues for businesses and individuals. This treaty is not yet in force and could take months or years to become active after completing domestic legal procedures.

Key impacts include provisions for residency status (Article 4) and employment income tax relief (Article 16), which help reduce double taxation for employees working across borders. Other relevant articles cover dividend and interest rates at 15%, and pension tax jurisdiction.

The agreement is welcomed as it eases administrative burdens and encourages cross-border commerce, with potential long-term benefits for employers and employees once it is enforced.

Implementation requires parliamentary approval in both countries, and recommended next steps include consulting the full treaty text and relevant resources for detailed relief claims once effective. Contact GMS or People Services professionals for further assistance.

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(cid:52) Public disclosure overview: This report typically contains certain forward-looking statements relating to the environment in which KPMG provides services, and is for general information only. It does not constitute, and should not be used as, accounting, regulatory, financial, or legal advice. Please consult with your professional advisor before making any decisions.