Finance Minister Fernando Haddad announced on Sunday night (8) that he reached an agreement with National Congress leaders to “recalibrate” the decree that increased tax on Financial Operations Tax (IOF), providing partial or full retreat of parts.
In return, he said that new collection measures will be proposed to compensate for this movement.
See the changes in IOF and the compensatory collection initiatives announced by Haddad and listed in the presentation of the farm viewed by Reuters:
Scratch
According to Haddad, the new fixed charge of 0.95% implemented on these operations, which function as a type of credit for companies, will be eliminated, while the rate of 0.0082% per day, with a ceiling of 3% per year, will be reduced.
Folder presentation speaks of 80% reduction for these operations.
Credit for companies
The government said there will be a reduction in IOF taxation without detailing. In the original decree, the government had raised the IOF ceiling of credit operations by companies from 1.88% per year to 3.95% per year.
In the case of simple companies, the collection would go from 0.88% per year to 1.95% per year.
VGBL
The new incidence of 5% IOF imposed by the decree last month on contributions that exceed R $ 50,000 per month in Private Social Security Plans Free Benefit Generator (VGBL) will be reduced.
FDICs
The farm now foresees the collection of a “minimum rate” on investment funds in credit law (FDIC) – the decree had determined that, for transfers related to funds abroad, the IOF would go from zero to 3.5%.
Compensation
The government will present a provisional measure with new initiatives to increase federal collection.
Title taxation
Capital gains with encouraged securities that are now exempt from payment of income tax will be taxed by 5%.
Among the roles that today have the benefit are Real Estate Credit Letters (LCI), Agribusiness Credit Letters (LCA), Real Estate Receivables Certificates (CRI), Agribusiness Receivable Certificates (CRA) and encouraged debnts.
Financial investments
Sources told Reuters on Monday that the government will still propose a 17.5% unified tax rate on financial investment income that today have a staggered collection of 15% to 22.5% depending on the deadline of the rescue, such as National Treasury titles and Bank Deposit Certificates (CDB).
Increased taxation of “Bets”
The minister said that a higher tax will be proposed on “Bets”. The charge will be 18% of the so -called “Gross Gaming Revenue” (GGR), the revenue of the betting company after the deduction of the prizes paid to the winners and the income tax. Today, the rate is 12%.
Financial institutions
Haddad has announced greater social contribution collection on net income (CSLL) of financial institutions. “There will be an approximation of bank rates. Today financial institutions pay three rates -9%, 15% and 20% -9% will no longer exist,” he said.
Tax spending
Haddad said government and Congress also agreed to discuss a reduction in “at least 10%” of tax incentives that are not defined in the Constitution. This initiative would be sent later and does not enter the MP.
*With information from Reuters
