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Bloomberg
a day ago
- Business
- Bloomberg
Brazil House Speaker, Top Banks Urge Reform, Slam Tax Strategy
Scaling back corporate tax exemptions in Brazil will be top of the agenda for lawmakers when they meet with the government on Sunday night, House Speaker Hugo Motta said. The talks come as the government of President Luiz Inacio Lula da Silva tries to plug a hole in the budget with tax hikes, a strategy criticized by Motta, who was elected speaker with broad backing, and the country's top bankers.
Reuters
22-05-2025
- Business
- Reuters
Brazil government to announce $5.5 billion spending containment, IOF tax hike
SAO PAULO, May 22 (Reuters) - Brazil's government is set to announce a spending containment of 31 billion reais ($5.54 billion) and an increase in the IOF tax on financial transactions, Transport Minister Renan Filho said on Thursday. His remarks at a highway concession auction in Sao Paulo came ahead of the expected release of the government's bi-monthly revenues and expenses report in Brasilia, with a press conference scheduled to happen right after. ($1 = 5.5990 reais)
