• Categories
  • Archives

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:

  • 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 !!!!!!

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil and IMF Discuss How to Grow with Fiscal Responsibility

The International Monetary Fund mission that is discussing a pilot project which would permit ...

Brazil Keeps Sending Aid to Tsunami Victims

In the next few days, Brazil’s humanitarian aid to the countries victimized by the ...

Brazil Makes Its Case to Saudis that Brazilian Agribusiness Is Good for Them

Brazil's Ministry of Agriculture, Livestock and Supply is going to promote a seminar on ...

Rio, Brazil, on the Top of the Oil

Rio de Janeiro, Brazil, is acting as the world petroleum capital from October 4-7. ...

RAPIDINHAS

A Soul Portrait Once a central port in the Portuguese colonial network of commerce ...

Brazil to let dollar rise in face of real

Brazil Ready to Let Dollar Climb and Interests Fall

Brazil has named a strong critic of the country's Central Bank strict (and controversial) ...

Bossa Nova Killed Opera in Brazil

The sultry new sounds that bossa nova actively came to encompass would give an ...

US Cruise Ship Allowed to Go on After Quarantine Imposed by Brazil

After Brazilian sanitary officials imposed a 24-hour quarantine following a massive outbreak of what ...

Ze Arigo and Doctor Puharich in 1963, in Brazil

Brazil’s Healers Operate On With Knifes and No Anesthetics

Medical expert commissions from different countries have been  coming to Brazil for several decades. ...