BRASILIA (Reuters) – Brazil’s Finance Ministry mentioned on Monday that if there’s a shortfall in income, it’ll submit proposals to Congress on this 12 months’s second half to tax huge tech firms and implement a world minimal tax of 15% on multinational firms to safe the 2025 fiscal purpose.
In a presentation on the 2025 price range invoice despatched to Congress on Friday, which tasks a main surplus of three.7 billion reais subsequent 12 months, the Finance Ministry estimated potential income of 17.9 billion reais from the rise in sure earnings taxes.
In a separate invoice submitted on Friday to lawmakers, the federal government proposed modifications to the social contribution tax on company earnings (CSLL) and curiosity on fairness funds (JCP).
The ministry estimated elevating 58.5 billion reais from tax negotiations subsequent 12 months, together with 30 billion reais from a brand new dispute decision program for giant taxpayers to be launched in 2025 following an settlement made this 12 months with state-owned oil large Petrobras.
“Firms that approached us estimated paying 130 billion reais in settlements, however we included 30 billion reais within the 2025 price range invoice,” the ministry mentioned.
The ministry additionally forecast an extra 28.5 billion reais by means of rulings by Brazil’s Federal Administrative Council of Tax Appeals (CARF), which handles taxpayer administrative circumstances.
In accordance with the ministry, correcting tax distortions will add one other 20 billion reais in income subsequent 12 months.
