Brazil has published Normative Instruction No. 1773 of 21 December 2017, which amends Normative Instruction No. 1037/2010 (the list of low tax jurisdictions and privileged tax regimes). The amendments include the removal of Costa Rica, Madeira Island (Portugal), and Singapore as low tax jurisdictions (black list), but also includes the addition of certain regimes of these jurisdictions as privileged tax regimes (grey list). The added regimes include:
- Costa Rica - The free zone regime (RZF)…