STF is majority and banks will have to pay billions of riyals to the federal government – Money Times

a STF (Supreme Federal Court) Formed a majority to frame the banks in the work that I submitted Ministry of Finance Includes paying federal taxes.

In general, the estimated effect is led by the bag Fernando Haddad 115 billion Brazilian reals.

The process is under review Santander (San P11) but it will have general repercussions, that is, it will affect everyone Financial institution from the state.

So far, six ministers have spoken in favor of the government, in disagreement with the rapporteur, the retired minister. Riccardo Lewandowski. Follow the downvote for Tovololi days Ministers Gilmar MendezAnd Carmen LuciaAnd Alexandre de MoraesAnd Roberto Barroso that it Nunes Marquis.

What are the stakes in the Supreme Court?

The ruling in the STF is about the collection of PIS and Cofins on financial income, such as interest, for example, from banks from 2000 to 2014.

According to Banks, the law that created this charge in the period analyzed would not have constitutional support. As a result, the amount charged from the financial institutions will be unaccounted.

The union, in turn, argues that the charge is constitutional and wants to oblige those who pay to pay the tax.

Since 2014, there is a law (12.973/2014) that recognizes mortgage on financial income. For this reason, the ruling analyzes the period following the law.

The Brazilian Federation of Banks (FIBRABAN) disagrees with the Finance Ministry’s calculations and claims to have conducted a survey that estimates the amounts under discussion in the STF ruling at R$12 billion, citing data from nine banks.

With Zika Ferreira and Reuters