Brazil’s Haddad sees proposed tax exemption having $4.75 billion fiscal impact

BRASILIA (Reuters) – Brazil Finance Minister Fernando Haddad said on Monday he believes the government’s proposal to raise the country’s income tax exemption will have a fiscal impact of 27 billion reais ($4.75 billion) on public accounts per year.

Haddad has said before that the fiscal impact of the move would be fully neutralized by compensatory measures.

($1 = 5.6886 reais)

(Reporting by Victor Borges and Bernardo Caram in Brasilia; Writing by Andre Romani)