THE government wants to raise the taxation of banks as one of the measures to compensate the tax exemption diesel oil and cooking gas already announced by the president Jair Bolsonaro and with an estimated impact of more than R $ 3 billion, said two sources with direct knowledge of the matter on Monday.
The idea is to increase the Social Contribution on Net Income tax rate from financial institutions by 20 percent to 23 percent, the sources told Reuters.
In a social media broadcast on February 18, the president Jair Bolsonaro announced that it would definitively zero federal taxes on cooking gas and for two months those levied on diesel from March 1. So far, however, the measure has not been made official and the economic team has not yet detailed how the loss of revenue will be compensated.
Sought this Monday, the advisory of the Ministry of Economy did not comment on the matter. The Communication Secretariat (If with) from the Presidency asked that the demand be sent to the Economy portfolio.
Currently, the only federal tax levied on fuels is the PIS-Cofins, since Cide is zeroed out. The decision to zero the tax levied on diesel for two months will represent a revenue waiver of 3 billion reais, according to the first estimate made by XP Investimentos on the 19th, the day after Bolsonaro’s announcement.
In an interview with Reuters, the chief economist of XP, Caio Megale, said that the impact of the waiver of revenue from cooking gas should reach R $ 1 billion per year, according to a preliminary calculation.