Originally published in the March 2 edition of World Tax Daily (Copyrights Tax Analysts)
Presidential Decree 7109/2010, which brings into force the Brazil-Grenada technical cooperation agreement, was published in Brazil’s official gazette on February 19 and entered into force the same day.
Article VI of the agreement, signed in St. George’s on April 24, 2006, 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 provides import and export duty relief for goods involved 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