Provisional Measure 281, published in the Official Gazette of the Union on 16 February 2006, establishes new tax benefits for non-residents that carry out financial investments in the Brazilian financial and capital markets. Details of the new tax benefits, which apply from 16 February 2006, are summarized below.
(a) Reduction from 15% to 0% in withholding tax on income obtained by non-residents from investments in federal government bonds. The exemption applies to income from …