Home » World » Presidential election in Brazil, Bolsonaro launches personal and corporate debt relief | Reuters

Presidential election in Brazil, Bolsonaro launches personal and corporate debt relief | Reuters

On 6 October, Brazilian President Jair Bolsonaro unveiled plans to tax dividends to finance debt relief for certain individuals and companies and to finance social security. FILE PHOTO: Brasilia 4 May 2022. REUTERS / Adriano Machado

[ブラジリア 6日 ロイター] – On Thursday, Brazilian President Jair Bolsonaro launched a plan to tax dividends to finance the debt relief of certain individuals and companies and to finance social security. He is catching up with former President Lula in the approval assessments before the presidential ballot on March 30, shifting the focus of the election campaign to the economy.

Lula also proposed a debt cancellation program for Brazilian consumers.

Bolsonaro told parliament he had agreed with the Speaker of the House of Representatives to tax dividends received by Brazilians with an income of 400,000 reais ($ 77,000) or more in order to extend social assistance schemes that expire in December.

Both he and Lula have pledged to continue the monthly payment of 600 reais to the poorest next year, but neither has made it clear how it will be financed. Both candidates are looking to change the tax rules.

Bolsonaro said the Federal Savings Bank of Brazil, a state financial institution, will forgive up to 90% of its debt for an estimated 4 million individuals and 400,000 businesses.

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