Originally published in the December 2, 2009 edition of World Tax Daily (Copyrights Tax Analysts)
Brazilian President Luiz Inácio Lula da Silva has signed an executive decree promulgating the Brazil-Peru income tax treaty. With the publication of Decree No. 7,020 in Brazil’s official gazette on November 30, the treaty has now entered into force.
The president signed the treaty on February 17, 2006, in Lima. The treaty was sent to Brazil’s Congress for analysis on May 31, 2006, and was approved on August 11, 2009 (Legislative Decree No. 500/2009).
The treaty generally follows the OECD model income tax treaty but includes some specific provisions relating to air, land, sea, and river transport; students and apprentices, athletes and pensions, and independent and dependent professionals; and annuities and social security payments.
David Roberto R. Soares da Silva