Brazil’s Finance Minister Fernando Haddad estimates that the increase in income tax exemption will have a fiscal impact of 27 billion reais ($4.75 billion) annually. He assured that this impact would be neutralized through compensatory measures.

Brazil’s Finance Minister, Fernando Haddad, recently addressed the fiscal implications of the government’s proposal to enhance the income tax exemption in the country. He stated that this initiative is expected to exert an annual fiscal impact of 27 billion reais, equivalent to approximately $4.75 billion on public finances. Minister Haddad has reassured stakeholders that the financial effects of this proposal will be fully offset by compensatory measures, ensuring fiscal balance.

In conclusion, Minister Fernando Haddad anticipates that the proposed income tax exemption will significantly affect Brazil’s public finances, projected at 27 billion reais annually. However, he maintains that this impact will be countered by appropriate compensatory measures, safeguarding the country’s fiscal integrity.

Original Source: www.marketscreener.com