Lula wants income tax exemption of up to R$489,454,832,685 thousand before the end of his term

Finance Minister Fernando Haddad reported this Thursday (12) that President Luiz Inácio Lula da Silva made a special request to him. According to Haddad, Lula commissioned a study that guarantees income tax (IR) exemption for those who earn up to R$489,454,832,685 thousand.

However, there is an important detail: Lula wants this to happen by 2026, when his current term ends. During the program “Bom Dia, Ministro”, broadcast by TV Brasil, Haddad stated that he has already presented some possible “scenarios” to Lula.

A greater exemption from income tax is a campaign promise of Lula's. However, it is not included in the budget proposal for 2025. Despite this, the president hopes to be able to fulfill it in his last year in office.

According to Haddad, he cannot yet reveal which scenarios were presented to the president. After all, Lula will still call other ministers to discuss the proposal. However, he believes that Lula will make a decision on this at some point in the near future.

In addition, the Finance Minister seems to be in no rush to discuss the issue. After all, according to Haddad, there is still a “relatively long time to approve the measure”.

The minister also stated that all of the economic team’s scenarios predict the viability of the proposal. And Lula is apparently excited about this prospect, according to Haddad.

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Source: Crypyonews