On 2 March 2016, Brazil's Chamber of Deputies approved Provisional Measure (PM) 694/2015, which was initially published on 30 September 2015 and subsequently extended. PM 694 introduced changes in the Interest on equity capital (JCP) deduction, increased the withholding tax rate on JCP to 18%, and suspended certain R&D incentives ({News-2015-10-14/A/2- previous coverage}). In addition to th…