CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Brazil Says Gross Tax Burden Was 33.47 Percent In 2014

Brazil Says Gross Tax Burden Was 33.47 Percent In 2014

by Mike Godfrey, Tax-News.com, Washington

03 November 2015


Brazil's gross tax burden reached 33.47 percent of gross domestic product (GDP) in 2014, down slightly from 33.74 percent in 2013, the Ministry of Finance announced on October 29, 2015.

The Ministry said that the decrease in the tax burden resulted from a 0.1 percent increase in GDP combined with a 0.8 percent decrease in tax revenues.

In September this year, the Ministry announced that it plans to increase revenue by BRL40.2bn (USD10.42bn) next year. The plan includes boosting revenue from taxes by BRL28.4bn.

Also that month, the Brazilian Senate approved a proposal to increase the CSLL social contribution tax on financial firms from 15 percent to 20 percent until 2019, at which point it will fall back to 15 percent.

Other proposals include increasing the tax on capital gains from the sale of goods worth over BRL1m and the reinstatement of the CPMF tax on financial transactions at a rate of 0.2 percent.

TAGS: capital gains tax (CGT) | Finance | tax | economics | fiscal policy | gross domestic product (GDP) | Brazil | tax reform | Other | Tax | Financial Transactions Tax (FTT)

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »