Brazil

Country Information

Continent South America
GDP (2012 est.) $2.33 trillion (2012 est.)
Currency & Exchange Rate reals (BRL) per US dollar 1.95
Dialling Code
+55

International Tax Regime

Residential taxation: foreigners taxed on local income; residents taxed on local and overseas income.

Individuals Are Regarded as Tax Residents If

If they reside there; if they enter under a permanent visa; if they enter under a temporary visa to work; if they enter under a temporary visa and remain more than 184 days per year.

Income Tax Rates

No tax is levied on monthly income up to BRL 1'637.11

  • 7.5% from BRL 1'637.11 up to BRL 2'453.50
  • 15% from BRL 2'453.51 up to BRL 3'271.38
  • 22.5% from BRL 3'271.39 up to BRL 4'087.65
  • 27.5% over BRL 4'087.65

Non residents are taxed at a flat rate of 25% on earned income or 15% on other income except dividends paid from a Brazilian entity, which are tax exempt.

Social Security

Companies deduct social security and pay it to National Institute of Social Security (INSS).

  • 20.00% for the employer on gross salary for INSS contributions on remuneration paid or credited to employees
  • 1.00%, 2.00% or 3.00% for the employer for Workers’ Compensation Insurance (SAT) contributions on the Payroll
  • 7.70% maximum aggregate rates of contributions collected by the INSS and attributed to third official agencies

Witholding Tax

Crude oil - production(bbl/day) 2,652,000
Crude oil - exports(bbl/day) 619,100
Crude oil - imports(bbl/day) 343,600
Crude oil - proved reserves(bbl) 13,150,000,000
Refined petroleum products - production(bbl/day) 2,108,000
Refined petroleum products - consumption(bbl/day) 2,594,000
Natural gas - production(cu m) 17,030,000,000
Natural gas - proved reserves(cu m) 395,500,000,000

Climate

Mostly tropical, but temperate in south.

Location

Eastern South America, bordering the Atlantic Ocean.

CCL Country Manager

Contact Details


 

Name:

Direct:

Email:

LinkedIn:

Greg Clarke

+1 713 425 6360

greg.clarke@cclglobal.com

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