Finance Minister Fernando Haddad said on Wednesday (24) that the Provisional Measure (MP) 1,303, which brings alternatives to the tax on Financial Operations (IOF), is important to close the budget of 2026 without cutting investments or social programs. The statement was made during the public hearing of the House of Representatives Agriculture Commission.
Haddad also stated that if the text is not approved, the government will have to cut discretionary expenses and warned that this may affect the next crop plan.
According to him, the letters of credit agribusiness (LCAS) and real estate credit letters (LCIS) will continue to be encouraged even with the taxation defended by the farm. Currently, the papers are exempt from income tax.
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Haddad claimed that the government is “pragmatic” and that it just wants to see the production grow. “The titles will continue to be encouraged,” he said. “We were alerted that the money was getting in the way,” he added.
The minister stated that the objective of the government is to do tax justice and channel resources for production and not for speculation. According to him, the taxes of the titles such as LCI and LCA make the treasure more “quiet” to roll the debt.
As showed the Broadcast (Real -time news system of the State Group), Government and Private Sector were close to reaching a common denominator about the beginning of the taxation of these titles that became the “darlings of the market”. Nonetheless, .
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The report should be presented by Deputy Carlos Zarattini (PT-SP) this Wednesday at 2:30 pm at the MP 1,303 Joint Commission. It is expected that the opinion read on the same day, but with the possibility of a request for a collective view, which should postpone your vote. After analysis of the commission, the MP must be processed in the plenary. The MP expires on October 8th.
The agriculture bench is one of the most resistant to MP, which was named MP rate. For the Parliamentary Front of Agriculture (FPA), the taxation of agricultural securities will compromise predictability and raise the cost of fundraising in agribusiness. Today the LCAs are the main source of rural financing.
The initial proposal of the MP, sent by the Government to Congress, provided for the taxation of 5% on the income generated from mortgage letters, Real Estate Credit Letters (LCIs), Certificates of Real Estate Receivables (CRIS), Certificate of Agricultural Deposit, Warrant Agriculture, Certificate of Credit Rights (CDCA), Letter of Credit Agribusiness (LCA), Certificate of Agribusiness Receivables (CRA), Rural Product Bankners (CPRS) and debentures encouraged from 2026. Today, these titles are exempt from taxation in the performance of individuals.
