Originally published in the August 27, 2010 edition of World Tax Daily (Copyrights Tax Analysts)
The Brazil-Trinidad and Tobago technical cooperation agreement entered into force on August 26, the same day the enacting decree (Presidential Decree 7269/2010) was published in Brazil’s official gazette.
Article VIII of the agreement, signed in Brasília on July 25, 2008, provides income tax relief for individuals involved in specific projects in the other country, although compensation and allowances paid by the host country may be taxed according to domestic tax laws and tax treaties.
Article VIII also provides import and export duty relief for goods used in specific projects in the other country. The agreement also establishes the conditions for the full application of the exemptions granted.
David Roberto R. Soares da Silva