After implementing a 2% tax on foreign purchases of equities and fixed income to slow down the...

|By:, SA News Editor

After implementing a 2% tax on foreign purchases of equities and fixed income to slow down the appreciation of the real, Brazil plans a 1.5% tax on American Depository Receipts to keep investors from flowing out of the local market. It'll be charged to companies when they deposit the shares in the Brazilian banks making the transaction.