Brazilian Tax Cut Boosts Sentiment

Brazilian Tax Cut Boosts Sentiment

Brazil Equity Economy & Policy Corporate & Sovereign Strategy

Investors and bankers largely cheered Brazil’s decision Thursday to eliminate the IOF tax on foreign equity investment and on infrastructure debentures, pushing the Bovespa some 2.23% higher on a day when US markets pared gains. Still the news left some bankers dissatisfied after the government decided to keep the IOF tax on most fixed-income instruments with the exception of those used for infrastructure. “The IOF exemption for equity is positive, but the government should consider having an ex

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