Brazil’s Chamber of Deputies Approves Pending Protocol to Tax Treaty with Argentina

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Brazil’s Chamber of Deputies (lower house of congress) approved for ratification the pending protocol to the 1980 income tax treaty with Argentina. The protocol, signed (previous coverage), is the first to amend the treaty and provides for several changes, including in relation to the treaty provisions resulting from the BEPS project, as well as new withholding tax rates for dividends, interest, and royalties. The protocol will enter into force 30 days after the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.