What is CPMF? CPMF means Provisional Contribution on Financial Transactions. According to information from the Federal Government, it was a measure created by the government of President Fernando Henrique Cardoso, in the year 1997.
How does CPMF work?
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This tax had as main objective to finance the public health, The social Security It is send resources to poverty eradication programs. The CPMF was renewed by President Lula in 2007, through Constitutional Amendment 42, made in 2003.
President Jair Bolsonaro denied in an interview with TV Bandeirantes that he would again establish the CPMF in his government.
“There is no recreation of CPMF. Much less an absurd hypothesis like that, a CPMF of 0.9%. Because, in my opinion, the entire production chain is burdened more than once. It's going to be hell here in Brazil. We do not want to save the State by breaking the Brazilian citizen”, he highlighted.