Bolsonaro Discards Return of Financial Transactions Tax

RIO DE JANEIRO, BRAZIL – President Jair Bolsonaro used his Twitter yesterday afternoon, September 11th, to refuse the re-enactment of the CPMF [Provisional Contribution on Financial Transactions] or the increase in the tax burden.

The statement was motivated by the dismissal of the Federal Revenue Special Secretary, Marcos Cintra, who advocated the introduction of a new tax on financial transactions.

“On request, Paulo Guedes dismissed the head of the Federal Treasury due to disagreements in the tax reform project. The re-enactment of the CPMF or the increase of the tax burden are out of the tax reform by determination of the President,” wrote Bolsonaro.

The president remains hospitalized in the Hospital Vila Nova Star, in São Paulo, where he underwent surgery to correct an incisional hernia.