Overview

• Deputy Carlos Zarattini delivered his report to the joint commission proposing a 7.5% income tax on LCI/LCA yields for individuals and 17.5% for legal entities, with application beginning in 2026.
• Exemptions are preserved for CRIs, CRAs and incentivized debentures, while a uniform 17.5% rate is maintained for other financial applications.
• The text adds a voluntary program to regularize undeclared or misreported cryptoassets with a reduced rate and immunity from related criminal penalties.
• Finance Minister Fernando Haddad said the measure aims to discipline an irregular market and reduce distortions relative to Treasury bonds, rather than raise revenue.
• Implementation details include a one-year delay for the 25% withholding on investors in tax havens, maintenance of CSLL on fintechs, and conflicting reports on the FII/Fiagro exemption threshold.