Bolsonaro confirms income tax reduction for the wealthy.
President Jair Bolsonaro said today (4) that the Minister of Economy, Paulo Guedes, should announce the possibility of lowering the ceiling of the Personal Income Tax rate, from 27,5% to 25%. "Because our government must have the mark of not raising taxes," he stated. This means that those who earn more will have more money in their pockets. Paradoxically, in his first decree, Bolsonaro reduced the minimum wage increase by R$ 8.
247 - President Jair Bolsonaro said today (4) that the Minister of Economy, Paulo Guedes, should announce the possibility of lowering the ceiling of the Personal Income Tax rate, from 27,5% to 25%. "Because our government must have the mark of not raising taxes," he stated. This means that those who earn more will have more money in their pockets. Paradoxically, in his first decree, Bolsonaro reduced the minimum wage increase by R$ 8.
Below is a news report from Agência Brasil:
Brazil Agency – President Jair Bolsonaro said today (4) that the Minister of Economy, Paulo Guedes, should announce the possibility of lowering the ceiling of the Personal Income Tax rate, from 27,5% to 25%. "Because our government must have the mark of not raising taxes," he said.
When asked, Bolsonaro said that the increase in the Tax on Financial Operations (IOF) has already been signed, but "for those who have operations abroad." According to him, the measure was necessary "to comply with a requirement of a project approved [by Congress] in this regard, as a 'bomb agenda,' against our will."
The president stated that "the percentage [of increase] is minimal, a fraction."
Bolsonaro spoke to the press after participating in a ceremony to transfer command of the Air Force to Lieutenant Brigadier Antonio Carlos Moretti Bermudez, at the Brasília Air Base.