Stock Exchange investors do not know how to pay their tax ongains generated from the sale of stock in the third quarter as theGovernment has modified taxation on July 1, but the FinanceMinistry has not published tax enforcement guidelines, yet.
The third quarter brought Stock Exchange investors significantgains, of 12.5% on BET and 20.1% on BET-FI, and in Octoberinvestors will have to queue up to pay a 16% advance tax.
The bill modifying tax enforcement guidelines, which can be read onCNVM's website, says investors will fill in the tax statement,which they will submit to the tax office and pay the advance tax ongains generated during a quarter by the 25th of the month after thequarter ends. In this case-October 25.
CNVM (National Securities Commission) announced it approved, onSeptember 29, the guideline modification bill, which it then sentto the Finance Ministry for review. CNVM representatives did notspecify, though, whether they operated any changes to the initialversion published on the website.
The number of BSE deals dropped to around 45,000 in September, from91,000 in June and 130,000 in May, over taxation changes. Thus,while listed shares have risen in recent months, transactions weresmaller and the tax the state will collect will not be significant,though the tax level was raised to 16% irrespective of the stockholding period.
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