brazil instituting transaction tax

Discussion in 'Wall St. News' started by piggie2000, Oct 19, 2009.

  1. 16:25 EWZ iShares Brazil: Brazil's finance Minister confirms gov't will levy financial transactions tax on capital inflows; says tax applies to capital inflows heading to fixed-income and stock investments - Reuters (75.25 +0.26) -Update-

    16:45 Brazil Minister says may introduce mineral tax, according to Estado - DJ

    to be honest the way people are going wild chasing stocks worldwide with no fundamentals it might be needed. people have justgone damm insane
  2. Daal


    2% tax. Doesnt apply to FDI, starts tomorrow
  3. Is this a tax on all transaction on the Brazil exchange or just a tax on foreign capital trades?
  4. Taxes on foreign capital have been applied before.. Asia, I think.
  5. Daal


    2% on new capital coming in. I assume new money from the owners of EWZ will be taxed, this might affect their fee
  6. gkishot


  7. Yeah a tax on foreign investment coming in. I guess they do not want our money:)
  8. moonmist


    By Paulo Winterstein

    Oct. 20 (Bloomberg) -- Brazilian stocks fell the most in seven weeks and the currency tumbled after the government imposed a tax on foreign purchases of bonds and stocks to stem the real’s appreciation.