On April 8, the Senate approved the draft legislative decree that modifies the agreement between Brazil and China to avoid double taxation of income tax and guarantee legal certainty. The Draft Legislative Decree (PDL 343/2024) now goes for promulgation.

Senator Tereza Cristina (PP-MS) said that the amendment to the agreement is in line with international standards of tax cooperation and the growing mobility of capital, as well as keeping pace with the increase in trade between the countries. She stressed that the new text balances the interests of both nations and modernizes the current agreement, favoring investments on both sides.

Tereza also highlighted the advances in cooperation between the countries' tax administrations, with new rules for exchanging information and combating tax fraud. The senator stressed that updating the agreement should boost investment, especially in the soy and beef sectors, reinforcing Brazil's role in global tax governance.

(Source: Metro1, on April 10)