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Brazil Offers Tax Relief To Spur Initial Public Offerings

by Mike Godfrey, Tax-News.com, Washington

19 June 2014


Brazilian Finance Minister Guido Mantega announced on June 16, 2014, that investments in the initial public offerings (IPOs) of smaller companies will be exempt from the 15 percent capital gains tax.

The tax break applies to the IPOs of companies with a market value of BRL700m (USD313m) or less and gross revenues of BRL500m or less in the year prior to the IPO. The measure will remain in place until 2023. The minister also announced that capital gains tax will not apply to investments in infrastructure debentures issued between now and 2020.

In addition, exchange-traded funds (ETFs) will benefit from a reduction in capital gains tax. The revised rates of capital gains tax on investments in ETFs will range from 15 percent to 25 percent, depending on how long a portfolio is held.

TAGS: capital gains tax (CGT) | Finance | tax | investment | Brazil | trade

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