Brazil to restore tax on companies' financial income from July 1
SAO PAULO, April 2 (Reuters) - The Brazilian government will restore a tax on some companies' financial income, according to a decree published in the official gazette on Thursday, part of President Dilma Rousseff's push to close a fiscal deficit and win back investor confidence.
The Cofins tax rate on applicable revenue will rise to 4 percent and the PIS/Pasep tax rate will rise to 0.65 percent. Both had been reduced to zero as part of stimulus measures that Rousseff has been withdrawing since she started her second term in January.
The new tax rates, which take effect on July 1, will apply to income including hedging operations, according to the decree.
Finance ministry officials were not immediately available for comment.
(Reporting by Priscila Jordão; Editing by Bernadette Baum)
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