Finance Minister Fernando Haddad said on Tuesday (7) that the National Monetary Council (CMN) will have to make regulatory changes to the securities whose taxation will be amended by the approval of the Provisional Measure Project (MP) 1,303/2025, with alternatives to the discharge of Financial Operations Tax (IOF).
In the original government text, a 5% tax on agribusiness and real estate sector (LCIs) is foreseen, as well as encouraged debentures, CRIS (real estate receivables certificates) and CRAS (agribusiness receivables certificate). In a previous version of the report, Deputy Carlos Zarattini (PT-SP) raised the 7.5% rate on LCAs. .
“We will have to do in the context of CMN regulatory changes to curb certain transhipments,” Haddad told journalists in the Senate, after meeting with party leaders to discuss the MP. “We’ll have to mess with regulation. This is imperative.”
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Asked what these adjustments would be, Haddad replied: “which have already been done in the past and we will have to revisit. Increasing direction, ensuring that it is coming to the producer, whether from construction or agriculture. And the sectors agree. The sectors have no difficulty with the regulatory part with regard to direction.”
The measure signaled by the minister dates back to restricting the permitted lashes for CRIS and CRAS operations, which are also exempt from Income Tax (IR). The government’s decision is over.
The economic team maintains that the large volume of IR private titles in the market has impaired public debt rolling. Haddad said it is necessary to ensure that these titles do not compete with debt rolling, “as it is happening today.”
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The minister admitted that this aspect should have been considered in another legal diploma, “because there was a feeling that it had no regulatory purposes. And has.” “The whole financial system knows that we are having this kind of problem. So we will adjust in regulation. In regulation we will channel to producers.”
Earlier, Haddad had said that an understanding of parliamentarians was reached that, at the rate of 15% AA, there was a risk of some investment being harmed. “There were, on the part of many people linked to the productive sector, the appeal for this to be considered at another time, not in this MP.”
The provisional measure loses validity on Wednesday (8), and still needs to be voted by the plenary of the House and Senate. With the changes, Zarattini states that the forecast of collection with the MP to 2026 will be $ 17 billion – a reduction of $ 3 billion over the original forecast.
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(With Estadão Content)
