Haddad announces MP to “recalibrate” IOF decree and increase collection

Finance Minister Fernando Haddad met on Sunday night (8) with the presidents of the House, Hugo Motta (Republicans-PB), and Senate, David Alcolumbre (Union-AP), as well as party leaders, to discuss alternative measures to the recent rise in the Financial Operations Tax (IOF).

The meeting, held at the official residence of the Chamber, in Brasilia, lasted about five hours and aimed to find a consensus on the strong negative reaction of the market and Congress to the elevation of the tribute announced just over two weeks.

After the meeting, Haddad revealed, without detail, that the government intends to issue a provisional measure to discipline the collection related to the financial market, correcting distortions in the credit system and taxation of securities and income.

The minister pointed out that the MP will allow to “recalibrate” the IOF decree, adjusting its effects to minimize negative impacts. Haddad also mentioned that he will present details about the betting market soon.

“A measure that corrects distortions in the credit system, charging taxes on securities, income on titles and related themes. Including, it will come into an aspect that we will explain tomorrow that is the issue of Bets, presenting this market, as it is organized,” said Haddad.

Mayor Hugo Motta classified the meeting as positive and stated that the IOF decree will be redone with a calibration that will significantly reduce its effects. According to Motta, the official announcement of the changes will be made after the return of President Luiz Inacio Lula da Silva, who is traveling to France.

The parliamentarian stressed that the provisional measure will bring financial compensation to the government, but with less negative impact than the initial version of the decree.

“The government brought this alternative where the decree will be redone with a calibration, significantly reducing its effects. It will be announced by the government with the return of the President of the Republic,” said Motta.

The IOF rise, which initially predicted about R $ 20 billion in 2025, caused a strong reaction in the market and Congress, with more than 20 proposals to overthrow the presidential decree.

In response, the government has already revoked part of the measure, such as increasing tax on domestic funds abroad, reducing the collection potential by about $ 1.4 billion.