Paraguay's tax authority (SET) has published General Resolution No. 101-21 of 20 October 2021, which clarifies certain aspects of the tax on dividend and profit distributions (Impuesto a los Dividendos y Utilidades, IDU). The IDU was introduced by Law No. 6.380/2019 on Modernization and Simplification of the National Tax System and is withheld at rates of 8% for resident recipients of distributions and 15% for non-resident recipients with effect from 1 January 2020.
General Resolution No. 1…