Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/316165 
Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
Texto para Discussão No. 3103
Verlag: 
Instituto de Pesquisa Econômica Aplicada (IPEA), Brasília
Zusammenfassung: 
The study examines the shift in taxation of open-ended fixed-income funds in Brazil from a realization basis to an accrual basis (locally known as come-cotas), which was introduced in 1998 and more recently extended to include private closed-end funds and offshore trusts through the enactment of Law No. 14,754/2023. The study estimated the effective tax rates of various savings vehicles, including real estate, fixed-income funds and bonds, stocks, pension funds, real estate and agricultural funds, and venture capital funds, among others. It finds that individual investments in rental properties are subject to a higher effective tax rate compared to other investment vehicles, especially financial assets. Finally, the study proposes a 14% "top-up" Individual Income Tax aimed at reducing overall tax regressivity from income tax and social contributions for the top 2% of wealthiest taxpayers. This minimum tax would encompass all sources of income, including dividends, certain unrealized capital gains, and benefits currently exempt by legislation, potentially generating a maximum of R$ 145.6 billion in revenue.
Schlagwörter: 
capital gains
individual income tax
wealth concentration
inheritance tax
Brazil
JEL: 
H24
H27
H29
H71
K34
K36
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Dokumentart: 
Working Paper

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