brazil instituting transaction tax

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% tax. Doesnt apply to FDI, starts tomorrow

 

Is this a tax on all transaction on the Brazil exchange or just a tax on foreign capital trades?

 

Taxes on foreign capital have been applied before.. Asia, I think.

 

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

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aex4NXE25Y0E

 

Yeah a tax on foreign investment coming in. I guess they do not want our money

 

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.

http://www.bloomberg.com/apps/news?pid=20601086&sid=avG7xRGZp9pQ