Bruno Shahini, investment specialist at Nomad, explains that if the perception is that the urgency of companies to shift resources in December will decrease, then the seasonal effect of dollar outflows will become less. In this way, the riyal could benefit, because there will be less outflow of dollars from the financial account, a movement that usually increases in December.
- Economic elite He tries to avoid paying income tax in 2026 by anticipating dividends
Senator Eduardo Braga’s report expects to extend the deadline for the distribution of exempt dividends and dividends from the end of this year to April 30, 2026, and to change the law that expands income tax exemption up to R$5,000. The minimum price, charged to those who earn from R $ 50,000 per month, will reach earnings. The law excluded dividends approved for distribution by the end of the current year, even if payment was made by 2028. Braga’s text extends this deadline until April 30. Companies were quick to determine the distribution of profits, before they were met with the minimum tax, as shown in the report by Gallos Cavalcanti and Roberto Malvasini.
The project now goes to the House of Representatives, where it may undergo amendments, explains Camila Tapias, co-founder of Utumi Advogados. If the House changes the content, the bill returns to the Senate for a new analysis before proceeding to presidential approval.
– The debate is expected to intensify in the coming weeks, precisely because the measures have a direct impact on corporate finance, the regulated betting market and the business environment as a whole.
For Hermano Barbosa, tax partner at BMA Advogados, postponing the deadline for companies to distribute their imputed dividends until 2025, before the new tax on dividends comes into effect, was the right decision.
– In the current system, taxpayers were subject to a tight deadline, as they had to approve these distributions of accumulated or average profits by December 31 of the current year. This history is not consistent with commercial practice, and requires quick decisions to be made with the potential for financial losses for companies and their partners.
In addition to changing the dividend deadline, the Senate CAE approved a project that increases taxes on betting and fintech, by 21 votes to 1. The approved project provides for a gradual increase until 2028 in the rate imposed on gross revenues from online betting and social contribution on net profit (CSLL) for fintech companies and other financial institutions. In the original proposal, the increase would be made in one lump sum. The text also stipulates an increase in the JCP interest rate, from 15% to 17.5%.