The Finance Ministry may revise the IOF tax increase due to backlash, the STF begins adjudication of three important cases, and next week will be the XI BRICS Parliamentary Forum

BRAZIL POLITICS - Report 30 May 2025 by Murillo de Aragão and Cristiano Noronha

After the negative backlash to the decree that raised the IOF on credit and foreign exchange operations, the Ministry of Finance may revise certain aspects of the measure. The goal is to address the R$ 800 billion in tax waivers granted by the government. Today, the Supreme Federal Court (STF) begins virtual adjudication of three important cases. All three rulings are scheduled to conclude by June 6. In Congress, the week is expected to be relatively quiet. This is due to the XI BRICS Parliamentary Forum, which will be hosted by the Brazilian Congress and is set to include representatives from 31 legislative bodies and about 150 foreign lawmakers.

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