In addition to a possible extension of the surcharge of the Tax on Financial Transactions (IOF) until 2023, the government plans to maintain the rate of Social Contribution on Net Income (CSLL) charged from financial institutions.
The measure was put on the negotiating table in the government, according to two sources from the Ministry of Economy, as an alternative to offset 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 president’s approval 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 8 billion reais a 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 questioned the Ministry of Economy about the plan but received no 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%.
Reference: CNN Brasil
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