MercoPress. South Atlantic News Agency
Brazil ups taxes on debit cards and travelers checks to contain outgoing tourism
The Brazilian government said on Friday it will raise a tax on operations with debit cards and travelers checks made abroad, in a move that will raise the country's tax intake by 552 million Reais (234.65m dollars) per year. Read full article
Comments
Disclaimer & comment rulesI thought everything was perfect in Brazil, Brasiliero certainly says things are.
Dec 29th, 2013 - 10:13 am - Link - Report abuse 0Perhaps the money raised is to help all the Senators and “Lawmakers / breakers” to have a hair transplant each!
Brazil: running around like a financial chicken with its head cut off!
Such a grown up country, NOT.
The only reason to do something this ridiculous is to stem reserve drain. Are they worried?
Dec 29th, 2013 - 02:13 pm - Link - Report abuse 0I visit Brazil often I, believe is the least competitive country of emerging economies their tax structure is such that every company demand one person solely to calculate the business taxes which they are some 37 of them.
Dec 29th, 2013 - 03:34 pm - Link - Report abuse 0They have 23 million people on welfare.
The social cost of doing business for a foreign company is tremendous.
If you can get 2 to 3 % return on capital you are doing well.
Brazil is an antibusiness country they protect their own industry to the detriment of free competition.
Once I had to buy a piece of imported equipment they spend ½ hour calculating the taxes what a waste of productivity no wonder they have coffee on every business for the customers.
@ 3
Dec 29th, 2013 - 04:29 pm - Link - Report abuse 0We are uneducated. Our power is in our market is. Consuming makes us strong. We must seize opportunities.
The lesson being that if you have money to spend abroad, open an account abroad. Seems somewhat counter-productive .. not only that, but if you are one of the many millions of Brazilians who live and work abroad, there is now even less incentive to repatriate spare cash.
Dec 29th, 2013 - 04:52 pm - Link - Report abuse 0Less than 1.7% of our population. Insignificant.
Dec 29th, 2013 - 04:55 pm - Link - Report abuse 0#6 Yes that's right you are insignificant. However that 1.7% of population probably generate a good percentage of money. What's more those with money here are steps ahead, they already have other accounts overseas to use so they can get around it. Meanwhile in a market which is over reliant on consumerism and should restructure but the Government hasn't got a clue, because of political expediency, the average Brazilian will be caught out, they get fleeced and their freedoms to enjoy their life are taken away i.e have a holiday overseas. You really are a plonker Brasileiro, you shit on your fellow countrymen and you should be ashamed. Classic case of not seeing the forest from the trees, because Brazil is suffering a death by a thousand cuts.
Dec 29th, 2013 - 06:02 pm - Link - Report abuse 0@ 7 Tik Tok
Dec 29th, 2013 - 06:14 pm - Link - Report abuse 0Excellent summation of the problem.
Pity is, I don't think there is a solution on the horizon so no investment from me in 2014 either.
Comment removed by the editor.
Dec 29th, 2013 - 06:23 pm - Link - Report abuse 0Comment removed by the editor.
Dec 29th, 2013 - 06:50 pm - Link - Report abuse 0I waiting you wrong!
Dec 29th, 2013 - 06:54 pm - Link - Report abuse 09 Brasileiro
Dec 29th, 2013 - 10:18 pm - Link - Report abuse 0Com todo o meu respeito......
Everything that you are seeing now in Brazil, the low unemployment numbers, the increased industrial production, the increasing salaries. All these things are a direct result of the protectionist policies in place in Brazil today. But, and this is a COLOSSAL BUT!!!! these policies always work their magic for only a short time, at best 10-15 years. After this time the rot sets in. Protected industry becomes inefficient, uncompetitive, they resort to extorting their customers to continue operating. Corruption sets in at the government level as entrepreneurs vie for more and more protective policies to ensure the survival of their uncompetitive businesses etc. In short if you want long term progress, then protectionism is not the answer. The world is littered with examples of failed experiments.
feliz ano novo.
@12 Chilean
Dec 29th, 2013 - 10:46 pm - Link - Report abuse 0Happy new year! Health and emotions!
Its not like they don't have a shining example of how to do it wrong on their doorstep.
Dec 29th, 2013 - 11:06 pm - Link - Report abuse 0Interesting article:
http://www.forbes.com/sites/kenrapoza/2013/12/19/despite-slow-growth-brazils-labor-market-unstoppable/
Brazil's economy overheats at very low growth rates because they have refuse to reform to remove the bottlenecks and constraints on growth.
Dec 29th, 2013 - 11:50 pm - Link - Report abuse 0Brazil is in a sweet demographic spot right now and should be harnessing that to create massive growth and expand its economy.
It needs to stop distorting the market in an attempt to protect consumers and instead compensate them through the tax system or programmes such as bolsa familia. Subsidies and protectionism is only damaging other parts of the economy that could flourish and create jobs and wealth too.
Brazil has one foot firmly in the statist interventionist old economic model and keeps tentatively putting its other foot into the free market model but then pulling it back again when things start to take off.
Usually it takes a good recession for reforms like this to take off because there is already pain and further pain is acceptable when the gains can be so high. It is the reason that growth is starting to take off in the west again. The past recession let some of the painful adjustments take place. The lower growth in the BRICs has not been low enough to prompt more radical reform so all four of them are making minor tenative adjustments hoping that they will soon bounce back.
They won't.
That growth cycle is finished and they need to make major changes for the next one because the only model only works once.
Brazil has had periods of high growth before and always followed by long periods of lacklustre growth afterwards. Seems the pattern may be repeating.
“Brazil: running around like a financial chicken with its head cut off!”
Dec 30th, 2013 - 06:55 am - Link - Report abuse 0Well ChrisRetard who can't speak one word Spanish but claims to live in Uruguay..lol..Actually, that's how the clowns in UK runs their economy..need more QE? Answer is..Oh yes they must have more QE, because it “works”.
Happy new year..idiot.
@16 to Fido dildo only those who have economic strengths can print money and Brazil is not one of them.
Dec 30th, 2013 - 10:29 am - Link - Report abuse 0Brazil is trying to devalue its way to prosperity.
Dec 30th, 2013 - 01:08 pm - Link - Report abuse 0Never in the history of fiat currencies has this ever worked over the long term.
It will increase inflation, make people lose faith in the currency and create a death spiral like it has done in every other country.
@ 16 Dog Dildo © Simon68 2013
Dec 30th, 2013 - 03:33 pm - Link - Report abuse 0Hi Dildo, not able to knock the argument, eh, only the poster?
Still telling brazen lies culo? Is that poor girl from Mexico still harbouring you in America or has she kicked your sorry arse out of her house? Come on, do tell.
Mind you, anybody stupid enough to buy bitcoins really can’t argue a thing about economics and expect to be listened to, can they.
Now run off down to Copacabana and get yourself turned over by the local thugs; it will make you feel right at home.
Perhaps brazil= rather than following india;s example of trying to do everything at once,
Dec 30th, 2013 - 05:41 pm - Link - Report abuse 0[space program ] [new navy ships ] [carriers ] [nuclear submarines ]
[ sat alights , big projects like the world cup, these all cost billions,
Why not wait until Brazil has grown richer and wealthier,
Improve housing , hospitals , the poor , elderly , ect ect .
Just a thought..
.
Briton
Dec 30th, 2013 - 09:01 pm - Link - Report abuse 0Because they want their bling!
They have been convinced they are in the same league as China and because China can now have these things, they think they can too.
They are failing to realise that they aren't in the same league as China. For all its faults it has made remarkable progress in doing just that. Lifting people out of poverty and building infrastructure. Ok, admittedly they have gone overboard in infrastructure and their bubble will probably burst. But the aim was always to grow the pie first.
India's economy is the smaller than Canada's and not much larger than Australia's. Brazil's economy is smaller than the UK's. You have to build on basic infrastructure and education before you can build other things.
Brazil needs to concentrate on the boring parts of nation building first and chase the bling later.
@21 “They have been convinced they are in the same league as China and because China can now have these things, they think they can too. ”
Dec 31st, 2013 - 03:32 pm - Link - Report abuse 0And China has been very good in projecting the image that everyone in China has these things. Once you are outside of affluent eastern city neighborhoods and in the (especially western) rural boondocks, you ain't looking' at a lot of bling there.
Fildo have four with you. Four “BILLIONS” humans!
Dec 31st, 2013 - 05:57 pm - Link - Report abuse 0Happy new year, friend. Come to my house, here in Brasil, come to me know. Pleasure to me.
Happy 2014 year.
aurelioamado@yahoo.com.br
other messages from England i no accept.
Brazil will eventually make the reforms when the hurricane gets closer. Until there we'll probably see more of “national-developmentism”. I think it is a terrible moment to PSDB win the election. It's better to wait PT destroy everything, so people will finally wake up.
Dec 31st, 2013 - 06:01 pm - Link - Report abuse 0@24
Dec 31st, 2013 - 06:22 pm - Link - Report abuse 0IDIOT!
@25 How much the state-owned companies are paying you to defend the government on the internet?
Jan 01st, 2014 - 06:44 pm - Link - Report abuse 0@ 25 you must be a damned PeTista....so can't see or smell all the crap happening right under your nose, or if you can, you support it because you believe you'll get something out of it..typical, that why clowns like Lusa are elected, become billionaires and you idiots still think he's a great guy....get a life !!
Jan 01st, 2014 - 10:33 pm - Link - Report abuse 0Come to my house, here in Brasil, come to me know. Pleasure to me.
Jan 02nd, 2014 - 01:15 pm - Link - Report abuse 0That's nasty
hahahahha
translation fail
Re #27, small but significant correction on 3rd line = LULA, not Lusa...
Jan 03rd, 2014 - 05:39 pm - Link - Report abuse 0Commenting for this story is now closed.
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