Belgium-Brazil tax treaty protocol enters into force

Decree 6,332/2007 introduces the Brazil-Belgium treaty protocol into Brazil’s legal system. The protocol was signed on November 20, 2002, by former president Fernando Henrique Cardoso and modifies the existing tax treaty between the two countries executed in 1972. The protocol updates many provisions of the 1972 tax treaty to follow current OECD recommendations, particularly regarding taxes covered by the treaty, residency, dividends, royalties, directors’ fees, artists and sportsmen, pensions, method for elimination double taxation, exchange of information, and diplomats and international organizations.