Brasília, 3/4/2004 (Agência Brasil - ABr) - The Banco do Brasil is offering its clients an advance of 70% of their income (withholding) tax restitutions at 3.65% per month. The operation, which is actually a loan, consists of two quick steps: presenting an income tax return and indicating the Banco do Brasil as the recipient of the restitution credit (the government begins paying tax restitutions in June or July and the payments extend to the end of the year, depending on how early the return was made).

Last year the Banco do Brasil undertook 170,000 such operations in the total amount of R$205 million. This year bank spokesmen say there should be 20% rise in restitution-based loans. (AB)