Tax exemption on financial transactions is temporary and will cost 7b reais, secretary of the Federal Revenue Jose Barroso Tostes Neto said.
- Government also announced the extension of the deadline for submitting the 2019 base year net income report to June 30 from April 30
- Companies will also be allowed to postpone payment of 4 tax contributions for 2 months
- Companies will be allowed to reduce wages by up to 70% for 3 months and suspend contracts and wages for 2 months
- No worker will receive less than minimum wage
- Program to protect jobs will cost 51b reais
To contact the translator on this story:
Reporter on the original story:
Editors responsible for the original story:
© 2020 Bloomberg L.P. All rights reserved. Used with permission.