On 15 October 2013 the Brazilian and Indian governments signed the amending Protocol to the Brazil–India Double Taxation Agreement. The Protocol amends the Agreement’s article addressing the exchange of information in tax matters to the widest possible extent – ensuring that bank secrecy or the absence of a domestic tax interest can no longer be used to deny a request for exchange of information. This update is in line with the OECD and UN Models and extends to taxes of every kind and description. The Protocol came into force on 5 December 2017 after receiving President Temer’s signature.
A similar Protocol was signed by the Brazilian and South African governments on 31 July 2015. It was approved by the the Brazilian Senate on 4 December 2014. In the same vein, on 12 December 2014 the Brazilian Senate approved the Protocol to the Brazil–South Korea Double Taxation Agreement which signed on 24 April 2015. These two Protocols still depend on the signature of President Temer to become law.
Last modified: March 20, 2019