Brazil’s Bolsonaro may raise personal loan taxation

Brazil‘s new President Jair Bolsonaro is considering a higher tax burden on personal loans as a way to fund development projects in the country’s north and northeast regions, newspaper Folha de S. Paulo reported on Friday.

A presidential decree is likely to be issued in the coming days, the paper said without citing sources. Brazilian banks have been lobbying for lower taxation as a way to reduce interest rates for consumers./


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