PIX tribute to be created in Brazil in 2024?
Market Rules
This PIX system of instant payments was created by Brazil's Central Bank to enable free, real-time transactions between individuals and businesses, 24 hours a day. Despite being made available to the public for the first time in November 2020, the PIX system was sufficiently well-received by the public, to the point that the proposal to create a tax on it raised concerns among multiple segments of Brazilian society. However, the ongoing increase in fiscal expenditure and search for new sources of tax collection in Lula da Silva's administration could also open the door to taxes on financial movement.
If by December 31, 2024, a tribute of any nature – be it a tax, fee, or contribution – is indeed imposed on PIX transactions that were free at the time the system was launched in November 2020, this market will resolve to "Yes".
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