Brazil Considering Tax Measures to Increase Revenue

On 14 September 2015, Brazil's Minister of Finance and Minister of Planning, Budget and Management announced proposed tax measures to increase revenue. The measures include:

• Replacing the flat individual capital gains tax rate of 15% with progressive rates ranging from 10% up to 30%;
• Reinstating the bank transactions tax (CPMF) at a rate of 0.20% on any debit in a bank account for four years;
• Reducing the maximum tax relief (refund) under the REINTEGRA regime for exports to the lowest rate o…