Telebras (TBH) & Brazil Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.450

+4.8%

3:39 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: djane who wrote (7231)	8/28/1998 10:39:00 AM
From: djane	of 22640

Gov't adopts new measures to halt foreing capital outflow Aug/28/98 at 08h45 am ET Sao Paulo, 28 - The government adopted three new measures yesterday aimed at restricting the foreign capital outflow, attracting more investments and protecting the international reserves. From now on, no income tax will be charged on foreign capital fixed-yield funds, on the conversion of foreign loans into investments and on loan remittances staying in the country for less than eight years. The first measure will be valid from September 1st through March 31st, 1999. The others take effect today and have no date scheduled to be altered. Before the government's decision, the income tax rate was at 15%. On Wednesday (26), foreign capital fixed-yield funds totaled US$5.5bn. As on July 31st those investments amounted to US$7.8bn, it means that in August alone US$2.3bn have already left the country. (O Estado de S. Paulo/ Jornal da Tarde/ Folha de S.Paulo/ Jornal do Brasil/ O Globo. Edited by Sergio Caldas) Copyright c 1996 Agˆncia Estado. All Rights Reserved.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next