On July 19, 2023, the Parliament of the United Kingdom of Great Britain and Northern Ireland approved the agreement to avoid double taxation with Brazil.
In summary, the referenced treaty was signed at the end of 2022, with the objective of eliminating double taxation of income and gains arising from relationships between residents of the two countries.
However, for the treaty to become effective, it requires ratification by the respective legislative powers, as recently occurred with the United Kingdom of Great Britain and Northern Ireland.
We highlight that the agreement has not yet been considered by the National Congress, pending final approval by Brazil.
The Tax Department at Castro Barros Advogados is available to provide any further clarification on this matter.