Tag: CPMF financial transaction tax

• Tuesday, September 15th 2015 - 10:13 UTC

  Brazil announces measures to balance budget; it includes controversial tax on financial transactions

  

  Brazil's government announced on Monday spending cuts and tax increases totaling 65 billion Reais ($16.9 billion) as it races to close a budget deficit that led to a downgrade of the country's credit rating last week.

• Monday, August 31st 2015 - 07:22 UTC

  Lacking congressional support Rousseff discards reinstating financial transactions tax

  

  President Dilma Rousseff has dropped the idea of reinstating a tax on financial transactions to bridge a gaping fiscal deficit in Brazil after it ran into a barrage of criticism even from within her coalition, Brazilian media reported on Sunday.

• Sunday, August 30th 2015 - 13:44 UTC

  Brazil wants to revive financial transaction tax to increase revenue

  

  The Brazilian government is considering reviving a financial transaction tax known as CPMF in a bid to shore up its finances in 2016, but the initiative apparently does not have sufficient support in Congress and President Dilma Rousseff's main coalition ally, PMDB, is not willing to make the presentation.