Senate approves project that authorizes companies to sell bonds to finance infrastructure works

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The proposal is now back for analysis in the Chamber, as the Senate has changed points in the text approved by the deputies. The Senate approved this Tuesday (19) a project that creates the possibility for companies that provide public services to sell debt securities (debentures) on the financial market to finance infrastructure works. The proposal will have to go through a new round of voting in the Chamber of Deputies, as the senators changed the content of the text. A concessionary company, for example, which carries out maintenance on a highway, will be able to issue debt and, with the funds raised, increase its capital and carry out infrastructure projects. It works as an investment for those who purchase the securities. In practice, the buyer, whether an individual or legal entity, lends money to the company and in return will receive the amount invested adjusted with interest, plus income. Income tax will be deducted from earnings. Companies that issue debentures will receive tax benefits as long as they carry out “investment projects in the area of ​​infrastructure or intensive economic production in research, development and innovation” that are priorities for the government. Companies will benefit from a 30% reduction in interest paid to investors based on the calculation of Income Tax (IR) and Social Contribution on Net Profit (CSLL). Debentures are different from shares as they work like a loan. The investor does not become a partner or gain participation in the company. President Lula criticizes booing at PAC launch event

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