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Background: Why the Brazilian Government Is Targeting Oil Revenues

Summary by The Rio Times
(Analysis) In late April 2025, the Brazilian government announced an increase in the IOF (Tax on Financial Operations) across various financial transactions. This move was intended to boost federal revenue amid ongoing fiscal challenges. However, the decision was met with strong resistance from both the financial sector and Congress, leading to political friction and negative […]

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The Minister of Fazenda, Fernando Haddad, announced an agreement with the Congress to reduce the shares of the IOF decree (Opera Tax on Finances). The government must change these percentages and take new measures to compensate for the loss of income or more (06/08/2025)

·São Paulo, Brazil
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Finance Minister Fernando Haddad (PT) will be taking part in a meeting this Sunday (June 8, 2025) with the Speaker of the Chamber of Deputies, Hugo Motta (Republicanos-PB), and party leaders to discuss an alternative to increasing the IOF (Tax on Financial Transactions). The meeting began at around 6:00 p.m. at the official residence of the Speaker of the Chamber of Deputies, in Lago Sul, Brasília. The meeting was scheduled after Congress's stro…

Economic team and Congress representatives are seeking consensus on the increase in the tax announced by the government over a little more than two weeks ago.

·Brazil
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The ministers of Fazenda, Fernando Haddad, and of the Institutional Relations, Gleisisi Hoffmann, arrived early this Sunday (8) at the official residence of the Chamber's presidency to discuss alternatives to the increase in the Tax on Financial Operations (IOF). The measure has caused a strong negative reaction in the financial market and between representatives of the productive sector. The meeting, which began about 18h, has been attended by …

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The Rio Times broke the news in Brazil on Sunday, June 8, 2025.
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