No looting funds, tax will not be reduced
This article was translated by an automatic translation system, and was therefore not reviewed by people.
The economic team recommended to the minister, Guido Mantega, which only reduce the taxation of investment funds at the time a motion is detected migration of such application for financial savings. Behind the scenes, the Central Bank (BC) has been pushing for the measure to be announced shortly, as a prerequisite for reducing the benchmark interest rate, the Selic, from 10.25% to the house from 9% to 9 5% a year, but the technicians of Finance estimate that, for now, there is no need to amend the Income Tax (IR) of the funds to keep them competitive with the savings.
The cut line that determines when the savings becomes more advantageous than investment funds depends not only on securities, but mainly from management fees charged by banks and the composition of fund portfolios. Some investors get special return equal to or greater than 100% of the Selic they put large sums and banks do not only purchase securities tied to that rate. There prefixed securities yielding more than 12% per annum and linked to other price indices, which offer similar profit. On the other hand, there are investors with low cost application that get much lower than the rate. In April, for example, the funds offered by banks had a net gain ranging from 0.44% in the month up 0.91%. That is, some funds come to yield twice the other.
In practice, the simulations show that the economic team of the investor funds that gets 100% of the Selic rate and pays 20% taxes (the rate varies from 15% to 22.5% depending on the term) will take advantage of savings as the Selic rate is above 8% per annum. When the Selic rate is 8%, for example, that investor will have net income of 0.51% per month, while the savings will be paying 0.50% plus a small stipend by the TR (less than 0.05% per month) . Who applies for funds get more popular and average return of only 70% of the Selic, for example, is already having adverse affect on savings, since its net income hovers around 0.46% - less than the 0.5 % of book.
Source: O Estado de Sao Paulo
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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