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Brazil scraps 6 pct financial tax on real estate trusts

Posted on 01 February 2013

Brazil on Thursday exempted foreign investors from paying a financial transaction tax on purchases of real estate investment trusts traded on the country’s stock exchange, hoping to spur investments and support an economic recovery.
For the last year the government of President Dilma Rousseff has aimed to develop funding alternatives for local builders, many of which are overly dependent on loans from state development bank BNDES, the main source of long-term corporate financing in Brazil………………………………………..Full Article: Source


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