Senate approves project that restricts tax compensation and limits expenses
The Senate approved this Tuesday a bill that restricts tax compensations and limits federal expenses with financial compensation between pension schemes, initiatives that had been overturned by the National Congress when Provisional Measure 1303 lost validity without a vote.
The project, approved in a symbolic vote and which now goes to presidential sanction, originally dealt with the creation of a special regime for updating the values of assets such as vehicles and properties with lower tax payments, but other initiatives were incorporated.
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On the tax side, the text defines that compensation for credits that are unrelated to the taxpayer’s economic activity will not be accepted.
One of the measures also included in the text concerns the Pé-de-Meia program, which is now included in the calculation of the constitutional minimum in education.
The project also establishes additional controls for the granting of defense insurance, paid to artisanal fishermen during periods of fishing restrictions.
The Chamber approved the text at the end of October, when the leader of the PT in the House, Lindbergh Farias (PT-RJ), informed that the incorporation of the sections could yield R$25 billion to the public coffers, increasing the 2026 Budget.
The government is trying to recover collection measures to close federal accounts after the loss of validity of MP 1303, which dealt with the taxation of financial investments with the intention of compensating for the partial overthrow of its proposal to increase the Tax on Financial Operations (IOF).
