Federal package to raise revenues still faces resistance
The Lula administration designed a package to increase revenues to help fulfill the promise of reducing the primary deficit to zero by 2024. The set of measures, which will be officially presented next Thursday, is expected to include four bills and two provisional measures. The economic team wants them to become law by the end of this year, but some proposals face resistance and may have to undergo changes, Valor found.Most measures in the package - which was designed for the federal government to be able to raise the R$130 billion necessary to balance next year’s budget - depend on Congress. The figures could still change because they will be finalized by the economic team until the budget is presented. But the government has plans "A, B, C and D," as Ministry of Finance officials often say. The alternatives include, for example, tax settlements - which don’t depend on Congress - and could help to reach a primary result equal to zero.Of the measures that depend on Congress, the most advanced is the bill that changes the tie-breaking rule in the rulings of the Administrative Council for Tax Appeals (CARF) in favor of the tax authorities. The text has already been passed by the Senate Economic Committee and is expected to be voted on - and approved - in a floor vote before Thursday. It will then go to President Luiz Inácio Lula da Silva for his signature, as it has already been passed by the Chamber of Deputies.The proposal is a priority for the Executive branch. There are R$1.2 trillion in the CARF. The Ministry of Finance estimates that at least R$40 billion could be raised next year with the return of the casting vote.The bill to regulate sports betting is also expected to move forward. Last Friday, Chamber Speaker Arthur Lira appointed the leader of the Brazilian Social Democracy Party (PSDB), Deputy Adolfo Viana, as rapporteur. The proposal will be on the voting agenda in plenary on September 8. Mr. Viana will have two weeks to negotiate adjustments with the government and the sector. The measure is expected to generate R$2 billion in revenue by 2024.The mission becomes more difficult when it comes to the provisional measure on exclusive funds and the "offshores" bill. Despite the agreement with Mr. Lira, the matters - which haven’t even reached Congress yet, which should happen this Monday - are already facing opposition.As Valor reported on Friday, Chamber leaders don’t agree with the proposal of the Ministry of Finance to impose a...
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