Brazil expects annual fiscal boost of $7.2 billion from new measures
BRASILIA (Reuters) -Brazil’s government expects an annual fiscal boost of around 40 billion reais ($7.22 billion) from a new set of measures formally submitted to Congress on Wednesday, Finance Minister Fernando Haddad said on Thursday.
Speaking to reporters, Haddad said the package, which includes higher taxation on online betting companies, a unified income tax rate for financial investments, and the elimination of a lower tax rate applied to financial firms, will also support efforts to meet this year’s fiscal target.
Combined with additional dividend payments from state-run companies and a planned extraordinary oil auction, the measures are expected to bring in about 20 billion reais this year, he said.
($1 = 5.5364 reais)
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