GALIPOLO was caught by surprise for changes in IOF and is contrary to the increase

The changes made by the government in the financial operations tax rates (IOF) did not have the Central Bank’s endorsement, Globo learned. According to interlocutors, President Gabriel Galipolo is against the measures, but was not consulted about the changes.

Behind the scenes, assistants say he was caught by surprise by the announcement made by the Ministry of Finance on Thursday.

In the interview on the subject, the executive secretary of the Ministry of Finance, Dario Durigan, said that Minister Fernando Haddad had talked to Galipole about the subject at the meeting they had last Tuesday. The folder secretaries also pointed out that the measures should help in the BC effort to control inflation.

The government changed fees charged from companies in credit operations and uniformly incident tariffs on resource exit operations from the country (exchange) at 3.5%. It also began to charge tax remittance tax for the outside, at a rate of 3.5%, among other initiatives. Changes in IOF should raise revenues this year by $ 20.5 billion and, next year, at $ 41 billion.

Changes in IOF incidents on exchange activities interrupt the process of adapting to the OECD standards and can make purchases and investments of Brazilians abroad. In practice, they are a disincentive to the exit of resources from the country.