By Naomi Matsui Brasília, 11/09/2025 - The rapporteur of the provisional measure to compensate for the increase in the Financial Transactions Tax (MP 1,303/2025), deputy Carlos Zarattini (PT-SP), confirmed to Broadcast Político that he will remove the incentive debentures from the list of securities that will be taxed at 5% starting in 2026. As a result, incentive debentures will continue to be exempt from income tax, as they are today. The exclusion will apply to infrastructure debentures—a type of incentive debenture—and will also cover the Infrastructure Participation Investment Funds (FIP). The text of the provisional measure sent by the government would increase the taxation of FIP from 15% to 17.5%, with a zero rate in some cases. According to him, the changes have already been approved by the Ministry of Finance, and the impact should be small. Zarattini rules out, for now, changing the unification of rates for other already taxed securities. "We will keep it at 17.5%. ...