Withholding tax rates on remittances abroad

The Brazilian Tax Authorities have published Law No. 9959/00, increasing the withholding tax rates on remittances abroad as of January 1st, 2000. Some tax rates applicable to such remittances increased from 0% to 15% or 25% when made to countries considered as "tax havens".Each remittance shall be analyzed individually in order to verify if there is any applicable special treatment under Brazil's existing Tax Treaty network.