Brazil finance minister says income tax adjustments could be on the table
Adds further comments
BRASILIA, Aug 22 (Reuters) -Brazil's finance minister said on Thursday that adjustments to some taxes on income are on thetable if additional measures are needed to offset payroll tax waivers recently approved by the Senate.
Speaking to reporters, Fernando Haddad said the government will send a bill with changes to intereston equity payments (JCP) and the social contribution tax on corporate income (CSLL) along with the 2025 budget bill next week.
According to Haddad, this bill will be submitted to ensure compliance with budgetary rules, in case the measures outlined by Congress are insufficient to offset the effects of payroll tax exemptions that senators approved this week.
Haddad also said the government plans to send an income tax reform proposal to Congress this year, and internal discussions on the matter should be near completion within 60 days.
The minister also mentioned that he believes President Luiz Inacio Lula da Silva already has the name of the new central bank chief "in mind."
Haddad said that the government will discuss with Congress the possibility of holding the confirmation hearing for the central bank president nominee during the parliamentary "informal recess," as lawmakers are working slower ahead of the October municipal elections.
According to the minister, the nomination announcement could be made either alongside or separate from the new directors that the government will need to appoint by the end of the year.
Reporting by Victor Borges; Writing by Marcela Ayres; Editing by Kylie Madry
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
