Brazil Hopes Tax Exemption for Foreigners Will Bring Extra US$ 4 Billion

For some time, foreign investors have not had to pay taxes on stock market transactions in Brazil. Now, the government has decreed a tax exemption for foreign investors who buy government debt bonds – on the stock market or on money markets.

For some time, foreign investors have not had to pay taxes on stock market transactions in Brazil. Now, the government has decreed a tax exemption for foreign investors who buy government debt bonds – on the stock market or on money markets.

Such investors will be exempt from both income tax and the CPMF – a debit tax on all financial transactions.

According to the head of the Secretariat of the National Treasury, Joaquim Levy, the measure will bring an extra US$ 4 billion to Brazil this year and, possibly, as much as US$ 10 billion next year.

Levy pointed out that similar tax exemptions exist in other countries, such as France, Germany, Argentina and Mexico.

"This is not an innovation. We are just making adjustments to our improved economic situation," he declared.

ABr

Tags:

You May Also Like

New Television Package in US Includes Brazil’s Globo TV

DirectTV and Alterna’TV, one of the nation’s leading distributors of Hispanic channels, announced today ...

Brazil Leads Production of Yellow Fever and Rabies Vaccines

Exports of yellow fever vaccines by Brazil’s Fundação Oswaldo Cruz (Fiocruz) have grown no ...

Shame! As Young as 9 and Selling Sex in the Capital of Brazil

 The Correio Braziliense published its most shocking front page on Wednesday, September 24. Through ...