In addition to a possible extension of the IOF (Tax on Financial Transactions) surcharge until 2023, the government plans to maintain the CSLL (Social Contribution on Net Income) rate charged to financial institutions at a high level.
The measure was placed on the government’s negotiating table, according to two sources at the Ministry of Economy, as an alternative to offsetting the exemption from the payroll of companies. The project that extended the benefit to 17 sectors until 2023 had the approval of Congress and depends on the sanction of President Jair Bolsonaro (PL).
When approving next year’s Budget, however, the Legislature did not include a forecast for the exemption, which has an estimated cost by the government at R$ 8 billion per year.
In order to make the sanction feasible without violating fiscal rules, the economic team is now looking for sources to compensate for this fiscal waiver.
In March of this year, the government announced an increase in the CSLL rate for financial institutions, from 20% to 25% by December 31st. The measure was adopted as part of the compensation for the loss of revenue after the reduction of PIS/Cofins rates on diesel oil and cooking gas.
The two sources in the folder said that the idea of ​​keeping the tax rate high until 2023 was discussed, although there is strong resistance from the banks. According to them, there is no final decision on the measure or on the exact level that the rate would be.
Reuters news agency questioned the Ministry of Economy about the plan, but did not receive an immediate response.
On Wednesday (29).
The increase in the tax was announced in September, with the initial objective of funding an increase in spending on social programs in the last months of 2021. The increase was made with a deadline set for December of this year.
The September decree raised the IOF on credit operations carried out by legal entities from an annual rate of 1.50% to 2.04%, and for individuals from 3.0% annually to 4.08%.
.
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
