Brazil Finmin convinces Lula to adopt inflow tax-report - Gay Brazil is the place to find all your gay Brazil, gay Sao Paulo, and gay Rio information on clubs, bars, saunas and hotels.

Gay Brazil is the place to find all your gay Brazil, gay Sao Paulo, and gay Rio information on clubs, bars, saunas and hotels.: Brazil Finmin convinces Lula to adopt inflow tax-report - Gay Brazil is the place to find all your gay Brazil, gay Sao Paulo, and gay Rio information on clubs, bars, saunas and hotels.

Help

View New Content

Page 1 of 1

You cannot start a new topic
You cannot reply to this topic

Brazil Finmin convinces Lula to adopt inflow tax-report Rate Topic:

#1 Admin

Administrator

Group: Administrators
Posts: 76
Joined: 24-August 09

Posted 18 October 2009 - 01:26 AM

BRASILIA, Oct 17 (Reuters) - Brazil's government plans on reviving a tax on capital inflows to contain the recent surge of the local real currency against the dollar, Folha de S. Paulo newspaper reported on Saturday, without citing sources.

President Luiz Inacio Lula da Silva denied there were plans for any such tax on Friday. But the newspaper said Finance Minister Guido Mantega convinced Lula to adopt the measure and that it could be announced already in the beginning of next week.

The idea is to slow down a sharp influx of capital into the country which is helping to rapidly strengthen the local currency, making exports expensive, the report said.

Brazil's real (BRBY) has gained around 37 percent this year, while the Bovespa stock index .BVSP has rallied more than 76 percent so far in 2009.

The tax would also be extended to investments in the stock market, the report added.

On Friday, O Estado de S. Paulo newspaper reported that the government was considering reviving the tax on capital inflows, a report which put pressure on the real currency. Lula at the time said "there's no plans for any kind of tax."

http://www.reuters.c...737749020091017