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Spanish Supreme Court Confirms Brazilian Interest on Equity Capital Eligible for Participation Exemption

|Approved Changes|Spain-Brazil
Spain-Brazil

A recently published decision of the Spanish Supreme Court confirms a 27 February 2014 decision of the lower National Court that Brazilian interest on equity capital (juros sobre o capital proprio - JCP) qualifies as dividends for the purpose of Spain's participation exemption. JCP is an alternate distribution by Brazilian companies to shareholders in proportion to their participation in the co…

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