Brazil has published Law No. 14.537 of 28 February 2023 in the Official Gazette, which provides for a reduction in the withholding tax rate on travel-related cross-border payments to foreign individuals or legal entities resident or domiciled abroad. A reduced rate is applied as follows for payments made by Brazilian individuals for tourism, business, service, or training trips abroad, as well as official missions:
- 6% from 1 January 2023 to 31 December 2024;
- 7% from 1 January to 31 December…