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Government Bolsonaro, Day 4: Inadequate ads on taxes. This sentence summarizes the first public talks between the president and the economic team, culminating in the remarks of the Chief Minister of the Civil House, Onyx Lorenzoni, revealing the first major shift between the new leadership. The noise occurred Friday morning after Jair Bolsonaro said that the economy minister, Paulo Guedes, would announce "the possibility of reducing" the maximum rate of income tax, which reaches the highest wages. At the same time, Bolsonaro also announced that the rate of financial transaction tax (IOF) would be high to offset the extension of tax benefits in the North and Northeast regions. The president's speeches, however, were rejected throughout the day and were described as "confusion" and "misunderstandings" by Federal Revenue Secretary Marcos Cintra and Onyx.
Facing the panorama, the superintendent of the economy, Paulo Guedes, who had already seen the president defend a social security reform less severe than he would have hoped, put a term to public commitments. He preferred silence. The Chief Minister of the Civil House, however, spoke on his behalf to deny the agent's ads. "Paulo Guedes has learned that before cutting taxes, we must come out of this $ 139 billion gulf," he said, citing the public accounts deficit.
It all started with the change of command of the aeronautics, Bolsonaro said to have signed a decree creating the IOF since the adoption of the law that extended until 2023 the tax incentive granted to companies located in the regions of the Amazian Development Authority (Sudam) and the Northeast Development Superintendency (Sudene). "It was signed a decree in this sense (elevation of the IOF), but for those who have applications abroad, be able to meet a project requirement approved as conspiracy against the bomb against our will, "the president told reporters
Bolsonaro's speech, the special secretary of the Internal Revenue Service, Marcos Cintra, said however that there would be no Increase of the IOF. "[Bolsonaro] must have caused confusion and no compensation The 2019 Finance Act provides for resources for enlargement," he said. Cintra also pointed out that the tax changes would come later, "at the right time".
At the end of the day, the Minister of the Civil House, Onyx Lorenzoni, convened a press conference at the Plbadto Palace for Announcement of the President. According to Onyx, Bolsonaro was "wrong" to announce that there would be an increase in IOF. Regarding the reduction of income tax, also announced by the President and denied by Cintra, the Minister of the Civil House said that it was one of " thesis resulting from the campaign ", but that it should only be dealt with when the government has managed to balance the public accounts.
"It is our policy to achieve a balanced budget, and this year we have a projected primary deficit of 139 million euros, of course we can not take any action to reduce collection." In the opinion of the economist André Perfeito of the broker Necton, the inadequacy between the lines of Bolsonaro and Onyx creates a significant noise in the conduct of economic policy.
"The proposals to reduce the infrared frequencies and increase the IOF sound are improvised because they do not specify the amount to raise and its relevance for the resolution of short-term problems. an orthodox adjustment is crucial
Increased regressivity
For the National Federation of State and District Treasures, the announcement made to the presidency by the president now plays for the purpose. The future (from 27.5% to 25% at present) is unconstitutional because it violates the escalation criterion set out in paragraph 2 of Article 153 of the Federal Constitution. Charles Alcantara, the measure is doubly misleading, from the point of view of fiscal and fiscal justice, because it increases the regressivity of the tax system and widens the gap between rich and poor, because Tax reduction Only for those who have greater purchasing power.
"Those who earn more must pay more taxes, those who earn less must pay less.This measure announced by the new government will favor part of the population, but will leave out many Brazilians who win up to # 39, to two minimum wages, which is a mistake and promotes inequality, "says Alcantra in a note
. The Brazilian currency is R $ 2,000 per month. The change announced by Bolsonaro would reduce the rate currently applied to persons whose monthly income is greater than R $ 4,664.68, which is currently 27.5%, to 25%.
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