Brasília – The Brazilian federal government will issue a provisional measure on the repatriation of funds illegally wired abroad by Brazilians. The ruling sets a 17.5% Income Tax rate and a 17.5% fine on sums sent to foreign countries irregularly.
According to the government’s leader in the Senate, Delcídio Amaral (PT-MS), apart from the Provisional Measure, the government should submit a bill to Congress dealing with the issue from a criminal standpoint. There is concern over dealing with domestic and international tax evasion, as well as preventing money earned through criminal activities from being regularized.
*Translated by Gabriel Pomerancblum
