Brazil May Exempt IPOs From Foreign Inflow Tax, Estado Reports

Nov. 6 (Bloomberg) -- Brazil’s Finance Minister Guido Mantega may exempt initial public offerings from a new 2 percent tax on foreign inflows while increasing the levy on other transactions, Estado reported, without saying how it got the information.
An increase in the inflow tax may be applied to other kinds of transactions in a bid to stem the real’s rally against the dollar, the Sao Paulo-based newspaper reported.
The Finance Ministry didn’t immediately return calls by Bloomberg News seeking comment.
To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net
Last Updated: November 6, 2009 07:14 EST

Brazil May Exempt IPOs From Foreign Inflow Tax, Estado Reports - Bloomberg.com