Brazil eyes public campaign to slash tax waivers to companies -minister

BRASILIA (Reuters) – Brazil’s government is considering clarifying the size of each company’s tax benefits as part of a campaign to end tax exemptions and improve public finances, Finance Minister Fernando Haddad said in an interview with newspaper O Estado de S. Paulo published on Monday.

Haddad stated that the current leadership of Brazil’s revenue service, under leftist President Luiz Inacio Lula da Silva, believes that this broad disclosure does not violate legal issues.

“We are in talks with the solicitor general’s office as we need to specify the tax benefits for each company’s registration,” he told the newspaper.

Haddad reiterated that the government wants to reduce tax waivers, estimated at 600 billion reais ($118 billion), by a quarter, or 150 billion reais.

He also said he supports a change in the inflation target system, suggesting a “continuous target” rather than the current January-December calendar approach. “At the appropriate time, I believe this issue will be revisited,” he said.

($1 = 5.0706 reais)

(Reporting by Marcela Ayres, Editing by Louise Heavens)