Brazil Investigating Investment Tax Loopholes, Estado Reports

Nov. 10 (Bloomberg) -- Brazil’s Finance Ministry is investigating possible loopholes used by investors to avoid paying a new tax on foreign purchases of stocks and bonds, O Estado de Sao Paulo reported, citing an interview with a government official who declined to be identified.
The Finance Ministry is inclined to raise the tax rate from 2 percent and at the same time to eliminate the tax on purchases of stocks in initial public offerings, the person told Estado.
The Finance Ministry press office didn’t immediately return calls by Bloomberg News seeking comment.
To contact the reporter responsible for this story: Camila Fontana at cfontana@bloomberg.net
Last Updated: November 10, 2009 05:02 EST

Brazil Investigating Investment Tax Loopholes, Estado Reports - Bloomberg.com

Waldemar Jezler