Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.479

+6.0%

3:59 PM EST

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To: MGV who wrote (7213)	8/27/1998 7:20:00 PM
From: djane	Read Replies (1) of 22640

Brazil to cut to zero foreigners' fixed-income tax Thursday August 27, 6:41 pm Eastern Time BRASILIA, Aug 27 (Reuters) - Brazil will cut a tax on foreign investment in fixed-income funds to zero from a current rate of 15 percent, an official at the presidential palace said Thursday. The official, who asked not to be named said the change would be included in a decree due to be signed later Thursday by President Fernando Henrique Cardoso. The measure appeared aimed at attracting foreign investment to Brazil as local and international financial markets plunged on fallout from Russia's crisis. The Central Bank announced Monday measures to attract inflows of dollars and bolster Brazil's hard currency reserves. Copyright c 1998 Reuters Limited. All rights reserved.

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