Brazil Politics: Bolsonaro Pushes Tax Cuts; Workers’ Party Event
(Bloomberg) -- President Jair Bolsonaro wants to further cut taxes in the second half of the year as part of a strategy to lure foreign investment and boost growth, according to a government official with direct knowledge of the plans.
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Bolsonaro to Scrap Tax on Foreign Investment in Fixed Income
The plan, which would be kicked off when Congress returns from its mid-year recess in August, includes scrapping income tax on foreign investment in private fixed income and lowering a so-called IPI federal tax on about 4,000 items produced out of Brazil’s free zone of Manaus by 35%, the person said, asking for anonymity as the discussion isn’t public.
The government is also preparing a cut of more than 5 billion reais in expenses to comply with the spending cap, says O Globo.
PT convention
The Workers’ Party and the Brasil da Esperança Federation hold conventions on Thursday to confirm the candidacy of former President Luiz Inacio Lula da Silva, with former Sao Paulo Governor Geraldo Alckmin as his running mate. Both men are on a trip to Pernambuco state and will not be present at the event, which happens in Sao Paulo.
Poll
Lula has 44% of voting intentions against 33% for Bolsonaro in a new Exame/Ideia poll. In a runoff, the former president has 47% and the incumbent 37%. The survey was carried out with 1,500 people by telephone between July 15 and 20, with a margin of error of 3 percentage points.
The table below shows the most recent data from presidential polls. The numbers may not be comparable due to the different methodologies and scenarios presented to voters:
Petrobras
The Energy Ministry said it will keep its list of nominees for the board of Petrobras unchanged even after a committee at the company barred two of the names.
In a statement late Wednesday, the ministry said it “did not find the alleged impediments pointed out by the Petrobras eligibility committee.” Shareholders are scheduled to vote on the names on Aug. 19.
Coronavirus
Brazil recorded 56,480 new cases of Covid-19 in 24 hours, according to data from the Health Ministry. The number of deaths rose by 346 to 676,217.
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