Durigan Proposes Further Tax Incentive Cuts in Brazil

Minister of Finance, Dario Durigan, has reiterated the government's intention to implement further reductions on tax incentives. This initiative aligns with broader efforts to recover fiscal revenues and ensure the sustainability of the fiscal framework. During an event at Esfera Brasil in São Paulo, Durigan emphasized that 10% linear cuts have already been made in non-constitutional tax benefits, with companies willing to contribute for societal benefit. 'It took three and a half years to correct the budget deficit inherited from the previous government,' Durigan stated, stressing the necessity of further measures to maintain economic stability. These statements come amid global concerns as countries like the United States, Germany, the UK, and Japan are grappling with high interest rates, indicating a wider trend towards restrictive monetary policies in response to inflationary pressures and geopolitical uncertainties.