The Ministry of Finance presented to Congress a draft bill to ensure the continuity of the tax exemption of real estate investment funds (FIIs), the Investment Fund in Agroindustrial Productive Chains (Fiagro) and heritage funds.
The measure seeks to reverse the legal insecurity generated by the presidential veto to the exemption of the contribution on goods and services (CBS) and the Tax on Goods and Services (IBS) for these financial products. If approved, the proposal will maintain tax incentives and strengthen the attractiveness of funds for investors.
The veto to the tax exemption occurred during the sanction of Law 214/2025, which consolidated the first phase of the tax reform. The decision generated strong reaction in the financial market and mobilized parliamentarians linked to the productive sector.
The Parliamentary Front of Entrepreneurship (FPE) and the Parliamentary Front of Agriculture (FPA) pressured the government and articulated a strategy to overthrow the veto in Congress, arguing that taxation could negatively impact investments in the real estate and agribusiness sector. Given the resistance in the legislature, the government chose to retreat and present a new project to ensure tax exemption.
The proposal aims to ensure that FIIs and strokes continue to benefit from tax incentives even after the implementation of CBS and IBStaxes that will replace existing taxes to simplify the tax system on consumption. The movement seeks to placate tension with the market and maintain investors’ confidence in the predictability of the regulatory environment.
New my house, my life can expand access
The Brazilian government values an extra contribution of $ 15 billion for my house, my life (MCMV)opening the possibility of a new financing range. The proposal aims to serve families with income of up to R $ 12 thousand, who were out of the program due to the increase in mortgage rates. With this inclusion, accessibility to the program can grow up to 35%. A price limits review is also under discussion, and the $ 500,000 ceiling comes as the most balanced option to optimize financing.
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Perspectives for the real estate sector
The real estate market is still favorable for low -income builders, driven by government incentives. In the high -income segment, the demand remains resilient, while the middle -class builders face challenges due to the tight macroeconomic scenario. In the commercial sector, rental costs are pressuring companies, but sales volume is still growing. The expectation for the coming months is of stability and caution in investment decisions.
Results Season brings important balance sheets
The release of the fourth quarter balance sheets brought highlights such as JBS, Sabesp and Cemig. JBS presented a solid result, reflecting its global expansion strategy. Sabesp exceeded expectations, driven by operational adjustments and management efficiency. Cemig also stood out, consolidating its position in the energy sector. The results reinforce the importance of monitoring corporate balance sheets to identify opportunities in the financial market.
Investors keep caution before Selic Alta
The recent rise in the Selic rate to 14.25% impacted investor strategy, which follow cautiously with variable income. Data from a research with XP advisers indicate that only 16% of customers intend to increase exposure to the scholarship. Meanwhile, fixed income remains the most sought after asset class. With the perspective of stability or new increases in Selic, risk appetite remains contained in the Brazilian market.
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The telecommunications sector underwent a period of significant growth after the consolidation of the mobile market. Between Vivo and Tim, both continue to capture value in a similar way, but Vivo stands out in operational dynamics, portfolio defensiveness and market appreciation. Although TIM is also a viable option for investors, preference is on Vivo due to its strategic position and sustainable growth.
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