| | This week's tax news from the Americas - Brazilian government proposes taxing dividends of nonresident shareholders
In a bill presented on 18 March 2025, the Brazilian Government again proposed applying withholding taxes to dividends paid to nonresident shareholders (both foreign individuals and legal entities) and increasing the income tax exemption applicable to low-income earners. The withholding tax proposal is expected to help offset the lost revenue from increasing the tax exemption for low-income earners. If enacted in 2025, the changes would be effective as of 1 January 2026.
- Peruvian Congress ratifies the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
On 13 March 2025, the Peruvian Congress approved the initiative ratifying the country's adherence to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), established by the Organisation for Economic Co-operation and Development (OECD). Before the MLI can be fully integrated into Peru's national legal framework, it must be ratified by the Executive Branch and subsequently published in the Official Gazette, El Peruano. After this, Peru will need to deposit the ratification instrument with the OECD to trigger the MLI's international entry into force.
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| | About Americas Tax Roundup Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Mannetta, writer and editor Distributed weekly to all Americas Tax personnel. | |
