Treasury denies that the government discusses IOF on exempt bonds, but admits studying the taxation of these securities
Daniel Leal stated that no measures on the topic have been taken at this time, although the government has been evaluating ways to tax these securities for some time.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 2 MIN
The Secretary of the National Treasury, Daniel Leal, denied that the government is discussing taxing exempt bonds with IOF. The statement was made at a press conference on Thursday, according to InfoMoney.
When denying the discussion, Leal said that the government has been evaluating ways to tax these bonds for some time. The objective, according to him, is to reduce distortions and provide equality between instruments, that is, to ensure that different applications receive more equivalent treatment.
The distinction matters for those comparing investments. When a bond is exempt, its income escapes certain taxes, which can make it more attractive compared to taxed alternatives. Equalizing the treatment, therefore, affects the way in which the investor makes this comparison.
Leal, however, was cautious when dealing with the design of the measure. According to him, it is necessary to study the best form of taxation, and no measures on the subject have been taken at this time. The difference between a technical study and a concrete proposal is what separates a possible long-term change from a rule with a defined deadline.
This newspaper's editorial line tends to advocate fewer taxes and predictable rules. The discussion on tax equality enters this debate, but any change in this field requires clarity about criteria and deadlines, points that the secretary's speech did not detail.
What changes for the investor
For now, according to the secretary's own statement, no measures have been placed on these securities, and the routine of those who invest does not change with the speech. If the government adopts any taxation on exempt securities in the future, the effect tends to appear when comparing instruments: applications that currently benefit from the exemption may lose relative advantage. It is worth monitoring the evolution of studies and the way in which the topic is conducted.
Automatically translated from Portuguese.
