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Where Taxpayers and Advisers Meet

New Brazil law on CGT

royoneill
Posts:1
Joined:Wed Jun 19, 2024 7:28 pm
New Brazil law on CGT

Postby royoneill » Wed Jun 19, 2024 7:35 pm

I am a UK citizen who moved permanently to Brazil with in 2018.
I bought my family home in the UK in 2004 and it was to be unaffected by Brazil tax when I sold it in the future.
On 31/12/2023 a new tax law came into effect in Brazil removing the exemption for pre owned assets and they now want 15% CGT when I sell, on the whole profit not just the profit from 2015 value like the UK will want.
I am looking for some advice on how to legally ensure I don't pay CGT in Brazil.
Or am I stuck waiting for the DTA to come into force.

darthblingbling
Posts:714
Joined:Wed Aug 02, 2017 9:09 pm

Re: New Brazil law on CGT

Postby darthblingbling » Wed Jun 19, 2024 10:12 pm

The DTA ain't gonna protect you, it'll still be taxable in Brazil.

AGoodman
Posts:1793
Joined:Fri May 16, 2014 3:47 pm

Re: New Brazil law on CGT

Postby AGoodman » Tue Jun 25, 2024 10:15 am

The new DTA will give the UK first right to tax but that will just be a credit against the Brazilian tax liability. If the Brazilian tax is more, you will have to pay them the balance.

wamstax
Posts:2021
Joined:Wed Aug 06, 2008 3:39 pm
Location:Operate Nationally but based in Aberdeen
Contact:

Re: New Brazil law on CGT

Postby wamstax » Tue Jun 25, 2024 11:23 am

We are mainly UK tax specialists so you would need to get advice from a Brazilian tax adviser for potential mitigation
Bill
regards and hope this helps
http://www.wamstaxltd.com
Operates Nationally with competitive costs
and email and phone contact (mob 07751720507) can be obtained from websites


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