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

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    • Show Comments (2)

    • Guest

      Good move by the government although I say this with reservation!!!

      This should have been done years ago but as the saying goes: better late than never.

      I hope Brazilian citizens will be taken care of from now as this is long overdue.

      Brazil needs a new reform-minded goverment and no more excuses!!!

    • Guest

      Not an innovation !!!!!
      Correct ! You are late, very late…. just.as usual !
      Just think how it would have helped your country and your finances….if you did that…earlier !

      Simple demonstration that you are quite medieval and archaÀ¯c…in your financial knowledge and expertise !

      That is not a compliment for Palocci, Meireles and all those supposed to care for the citizens wellbeing !!!!!!

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