The Brazilian Senate is currently reviewing Senate Law Project 275/2014 (PLS 275), which would amend the definition of low-tax jurisdiction (LTJ). The amendment includes that a jurisdiction would be considered an LTJ under Brazilian law if recognized as such by independent and internationally recognized bodies, entities or organizations instead of the current criteria, which includes a jurisdiction with a tax rate of 17% or lower. The bodies, entities or organizations referred to would be lis…