There are two things in life that are for sure – paying taxes and death. And as we all know, every country has different taxation laws and things will get really complicated if you live in one country and you have an income source in another.
Brazil must have one of the most complicated taxation laws in the world and as foreigners living here it is a bit confusing on when, what and when you have to pay tax on income one makes here in Brazil and on the income in another country that you would like to transfer into Brazil.
We are not going to get into the subject as it is really too complicated and a real minefield, but we found this really good website from PricewaterhouseCoopers that gets into the nitty gritty of taxation laws in Brazil and how it effects your worldwide income.
The report is pretty detailed and explains to you the taxes on personal income, foreign tax relief and tax treaties, significant tax law changes, retirement funds to name a few.
And the website is updated on a regular base about new regulations, so keep an eye on it if you want to do the right thing.