Haddad Sees Greater Revenue Potential After Deputies Approve Taxation on Super-rich
Finance Minister believes the bill will be approved by the Federal Senate
247 - After the Chamber of Deputies approved the taxation of funds of the super-rich and offshore companies on Wednesday (25th), Finance Minister, Fernando Haddad, assesses that the adoption of the new rules will indicate an increase in revenue. One of the central goals of President Luiz Inácio Lula da Silva's administration for the year 2024 is to achieve a zero fiscal deficit goal.
"Some people expect there might be an increase in revenue since mechanisms that encourage adherence have been introduced," Haddad said on Thursday (26th), as reported by the newspaper Valor Econômico. "As the tax rate was set lower than originally anticipated, the adherence should be higher," he added.
Furthermore, according to Haddad, the bill approved by the deputies was well-crafted. He stated that he expects it to be approved by the Federal Senate.
Regarding the prospect of balancing the fiscal deficit by 2024, Haddad commented that while the government is "creating expenses on one side, some very meritorious, we have to take care of the revenues". When approached by journalists after leaving the ministry, he stressed: "We have some challenges. Anything that supports fiscal health helps the country."