Senator Renan Calheiros made harsh criticisms of the President of the Chamber, Arthur Lira, accusing him of trying to protect the cryptocurrency sector and betting houses during discussions about the Income Tax reform. Leading the Senate Economic Affairs Commission (CAE), Renan stated that Lira would be conditioning the advancement of the proposal on the inclusion of matters that are not part of the Congress agenda.
According to Folha de S.Paulo, among these points would be measures related to amnesties, which further intensified the political clash between the two.
Renan also stated to the newspaper that he intends to present an alternative text in the Senate, focusing on the taxation of currently exempt funds, the collection of taxes on profits sent abroad, and the revision of the tax rate applied to bets, in contrast to the report approved in the Chamber.
The senator emphasized that this proposal does not stem from a government demand, but rather from the need to correct distortions, without mixing tax reform with controversial issues.
Taxation of cryptocurrencies
In June of this year, the government decided to eliminate the exemption on profits of up to R$ 35,000 obtained from cryptocurrencies and set a tax rate of 17.5% on Income Tax, also covering crypto assets held in self-custody and abroad.
The measure, published in MP 1303, increases taxation on financial investments to boost revenue, affecting previously exempt fixed-income securities and raising the tax rate on the revenue from bets from 12% to 18%.
Larger investors may end up paying the same or less in taxes, while the assessment will be quarterly with loss compensation limited to five quarters, a restriction that will become stricter in 2026. The initiative came after the government abandoned its attempt to increase the IOF, which was strongly criticized by the market and Congress.
