Brazil Proposes 10% Tax on Corporate Profits Sent Abroad: Rtrs

The tax on corporate profits and dividends sent abroad would help offset revenue losses from raising the income tax exemption threshold to 5,000 reais per month for individuals, Reuters reports, citing two unidentified people with knowledge of the matter.

• Measure will complement a previously announced minimum tax on individuals earning more than 600,000 reais per year
  • Rates would gradually increase to a maximum of 10% for those making over 1.2 million reais annually
• NOTE: Brazil Income Tax Exemptions to Cost BRL27b: Haddad

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