Tax & Spend

Brazilian Companies Pushing Lula for Better Deals on Back Taxes

Government eyes settlement revenue to help balance its budget
Some firms seeking more ‘business-friendly’ payment terms

Luiz Inacio Lula da Silva’s government is targeting a primary fiscal deficit of zero next year.Source: Ton Molina/Bloomberg

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By Martha Beck, Rachel Gamarski, and Cristiane Lucchesi

September 10, 2024 at 5:55 PM UTC

This article is for subscribers only.

President Luiz Inacio Lula da Silva’s plan to balance the budget by reaching settlements in corporate tax disputes is facing hurdles as some large Brazilian companies hold out for better deals.

Ten major players from different sectors, including banking and infrastructure, have been discussing potential resolutions to unsettled court disputes with the Finance Ministry, according to Executive Secretary Dario Durigan.