By: Guilherme Tostes, OCAM
It is not just today that people migrate between countries. In fact, man’s story is told through these movements. However, I’m sure until the twentieth century, very few people cared so much about tax aspects. The tax laws of countries are sophisticated and today, we must look into how they can affect our lives.
Brazil has one of the highest tax burdens in the world. It is common for people to have the expectation that they will pay fewer taxes when fiscally domiciled abroad. However, this is not always the case. When changing tax domicile, always go through the exercise to assess the actual gains or losses with this decision. Always take into account still existing treaties to avoid double taxation. Investing in professional advisory during your transition can yield big savings.
*Always consult with a licensed tax professional