Brazil plans to implement wealth tax.

The Brazilian federal government is planning to introduce an annual wealth tax of 0.5 to 1 percent on individuals with net assets over BRL14 million (USD4.3 million). According to Ernst & Young, there are also plans to increase inheritance and gift taxes at state level but this means that each Brazilian state would have to implement their own new laws.

Now may be a good time for Brazilians to review their assets and coordinate planning strategies to lower their exposure to this new tax.