Revenue official praises extension of CPMF tax

21/02/2002 - 18h32

Brasilia, 22 (Agência Brasil - ABr) - Federal Revenue Secretary Everardo Maciel declared Thursday that if the prolongation to 2004 of the Temporary Tax over Financial Transactions (CPMF) - a 0.38% tax collected from all transactions - hadn't been approved by Congress, there would have been a fiscal collapse this year, with repercussions in subsequent years. He said that the approval of the tax was "providential and important" and added that he's convinced the CPMF is a tax that can't be discarded in any tributary system. (MW)