President Ratifies Amendment to Double Taxation Treaty with Brazil

Bratislava, May 14 (TASR) - President Peter Pellegrini has ratified a protocol between Slovakia and Brazil on avoiding double taxation and preventing income-tax evasion. The protocol amends a treaty originally concluded in the 1980s. The head of state ratified the agreement on May 9. The protocol will modify the international treaty to take account of changes in national and international tax rules. "The need for the modification arises from fundamental changes in the national legislation of both contracting states and in the area of international taxation that have occurred since 1986, when the treaty was concluded. The purpose and subject of the protocol coincide with the purpose and subject of double taxation treaties, i.e. the creation of a legal framework for developing comprehensive and mutually beneficial economic relations," said the Finance Ministry. am/df