The income tax treaty between Brazil and Iceland was signed on 14 October 2024. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Brazilian federal income tax and the social contribution on net profit. It covers Icelandic income taxes to the state and the income tax to the municipalities. Residence If a person other than an individual is considered resident in both Contracting States, the competent authorities will determine the person's residence for the purpose of the treaty through mutual agreement, having regard to its place of head or main office, its...