Urgent.News

What's breaking now, across thousands of outlets.

More in Finance & Markets

The problem with exempt papers is not the exemption. It's who benefits.

The market considers it likely that some taxation of exempt securities (LCIs, LCAs, infrastructure debentures, etc.) will occur in the next government - regardless of which one it is.

  • Taxable treatment for tax-exempt securities expected under next administration
  • Supported titles' value at R$2.3 trillion, fiscal concession around R$50 billion annually
  • Beneficiaries primarily large banks and large companies, not end-consumers

More from Thursday 1 October →