OrbitaxBrazil Publishes Provisional Measure on Changes to Interest on Equity Capital and Other Changes
|Approved Changes|Brazil
On 30 September 2015, Brazil published Provisional Measure (PM) 694/2015 in the Official Gazette. PM 694 includes the following changes:
- Interest on equity capital (JCP) paid to partners or shareholders may be deducted at the lower of Brazil's long-term interest rate (TLJP currently 7%) on a pro-rata basis per day or 5% per year;
- Withholding tax rate on JCP is increased from 15% to 18%;
- R&…
