It didn’t took much time since our last post about the possibility of the government to bring to the discussion a new or higher taxes on the richest segment of the population at a time when the country desperately needs resources to deal with a fiscal deterioration. Among the possibilities were a new rate of income tax, tax on large fortunes and the return of profits and dividend tax (back? Yes, it already existed in the past).
While not a complete surprise, the solution being discussed today between technicians at RFB (Brazilian IRS) is actually a federal estate tax, that’s right, Brazil can finally tax more aggressively its richest class. Recalling that currently exists an inheritance tax, but collected by states, the ITCMD has a maximum rate of 8% only practiced by 3 states, the other mostly tax at 4%.