Brazil's Chamber of Deputies is considering legislation to introduce a progressive wealth tax on individuals with net assets exceeding BRL 10 million, with rates ranging from 1% to 3% depending on total wealth.
Brazil’s Chamber of Deputies is reviewing a draft legislation as of 2 February 2026 to implement a “Tax on Large Fortunes” (IGF), a levy already authorised by the Federal Constitution but never enacted.
This proposal seeks to establish a Great Fortunes Tax (IGF) to address economic disparity.
The tax would apply to individuals whose total net assets exceed BRL 10 million, calculated as of 1 January each year, with specific valuation rules and adjustments. To prevent unfair double taxation, the text allows deductions for other property-related payments, such as vehicle and real estate taxes.
The tax would be payable by Brazilian residents, non-residents with Brazilian assets, and their estates, at progressive rates.
| Net wealth range (BRL) | Tax rate (%) | Amount to deduct (BRL) |
| From 10,000,000.00 to 99,999,999.99 | 1% | – |
| From 100,000,000.00 to 199,999,999.99 | 2% | 1,000,000.00 |
| Above 200,000,000.00 | 3% | 3,000,000.00 |
The tax would take effect on 1 January of the year following its enactment and publication in the Official Gazette.
