Brazil to propose 17.5% income tax rate on financial investments
Investing.com -- The Brazilian government is set to propose a new income tax rate of 17.5% for financial investments to Congress, according to a Reuters report on Monday. This change will be applied to all financial investments that are presently subject to an income tax rate between 15% and 22.5%. The tax rate varies based on the holding period of the investment, with the tax amount decreasing as the holding period lengthens.
However, debt securities, which are currently exempt from income tax, will not be affected by this change. Instead, these will be taxed at a rate of 5%, as disclosed by Finance Minister Fernando Haddad on Sunday.
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