Publication:
Impact and Implications of Recent and Potential Changes to Brazil's Subnational Fiscal Framework

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-12-17T21:48:58Z
dc.date.available2014-12-17T21:48:58Z
dc.date.issued2013-09-27
dc.description.abstractBrazil's subnational fiscal framework has remained a source of unabated controversy despite its relative stability over the past decade. The objective of this study is to evaluate the nature and impact of recent and expected changes to Brazil's subnational fiscal framework in light of these debates. More specifically, this work has focused on recent and proposed changes to: 1) the Tax on Goods Circulation, Communication and Inter-municipal and Inter-state Transportation Services (ICMS); 2) the State Participation Fund (FPE) as well as the transfers from oil and mining royalties; and 3) the subnational debt and borrowing framework. These three broad areas are precisely the ones that are the center of the current debate on Brazil's subnational fiscal framework. In order to achieve the proposed objective, three background papers were commissioned, each covering one of the issues outlined above. The main value-added of this study is an examination-and an attempt at a quantification of the impacts of the changes underway in these three dimensions of Brazil's intergovernmental fiscal framework. The remainder of this synthesis report is organized as follows. Section two provides a brief overview of how Brazil's subnational fiscal framework currently works. Section three describes the ongoing efforts to reform Brazil's subnational fiscal framework and points to the advantages of a more coordinated approach over a piecemeal one. Section four discusses the expected fiscal impact on subnational governments of the most likely reform scenarios. Section five concludes. Finally, the amended proposal also kept the original provisions regarding the validation of past tax incentives unchanged. It included a mandate for past tax incentives to be approved by state legislative and to be disclosed at the official Gazette. The main change was the creation of a provision to safeguard the existing tax incentives until their expiration or 2033, whichever comes first.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/09/18423427/impact-implications-recent-potential-changes-brazils-subnational-fiscal-framework
dc.identifier.doi10.1596/20773
dc.identifier.urihttps://hdl.handle.net/10986/20773
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectADMINISTRATIVE COSTS
dc.subjectALLOCATION OF RESOURCES
dc.subjectAMOUNT OF CREDITS
dc.subjectAMOUNT OF DEBT
dc.subjectARREARS
dc.subjectBANK POLICY
dc.subjectBANKING SECTOR
dc.subjectBASIC EDUCATION
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBLUE CHIP
dc.subjectBLUE CHIPS
dc.subjectBONDS
dc.subjectBORROWING
dc.subjectBORROWING RULES
dc.subjectBUDGET CONSTRAINTS
dc.subjectCAPACITY BUILDING
dc.subjectCASH OUTFLOW
dc.subjectCENTRAL GOVERNMENT
dc.subjectCOEFFICIENTS
dc.subjectCOLLECTION PROCESS
dc.subjectCOMMODITY PRICES
dc.subjectCOMPENSATION FUND
dc.subjectCOMPLIANCE COST
dc.subjectCONSUMER PRICE INDEX
dc.subjectCREDITORS
dc.subjectCUSTODY
dc.subjectDEBT CONTRACTS
dc.subjectDEBT CRISIS
dc.subjectDEBT FINANCE
dc.subjectDEBT INTEREST
dc.subjectDEBT ISSUANCE
dc.subjectDEBT OUTSTANDING
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SERVICE
dc.subjectDEBT STOCK
dc.subjectDEBTORS
dc.subjectDEBTS
dc.subjectDECENTRALIZATION
dc.subjectDECENTRALIZATION PROCESS
dc.subjectDEVELOPMENT BANK
dc.subjectDEVOLUTION
dc.subjectDIFFERENTIALS
dc.subjectDISTRICT
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKETS
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectELECTRICITY
dc.subjectEQUALITY
dc.subjectEQUALIZATION
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURE NEEDS
dc.subjectEXPENDITURES
dc.subjectEXTERNAL DEBT
dc.subjectFEDERAL BUDGETARY RESOURCES
dc.subjectFEDERAL CONSTITUTION
dc.subjectFEDERAL DEBT
dc.subjectFEDERAL DISTRICT
dc.subjectFEDERAL LAW
dc.subjectFEDERAL REVENUES
dc.subjectFEDERAL SENATE
dc.subjectFEDERAL TAX
dc.subjectFEDERAL TAXES
dc.subjectFEDERAL TRANSFERS
dc.subjectFEDERAL TRANSFERS TO STATES
dc.subjectFINANCES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTION
dc.subjectFISCAL ADJUSTMENT
dc.subjectFISCAL AUTONOMY
dc.subjectFISCAL BALANCE
dc.subjectFISCAL CAPACITY
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL FEDERALISM
dc.subjectFISCAL FRAMEWORK
dc.subjectFISCAL IMPACT
dc.subjectFISCAL PLANS
dc.subjectFISCAL POLICY
dc.subjectFISCAL REFORMS
dc.subjectFISCAL RESPONSIBILITY
dc.subjectFISCAL SPACE
dc.subjectFISCAL SUSTAINABILITY
dc.subjectGOVERNMENT ACCOUNTS
dc.subjectGOVERNMENT REVENUE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS REVENUES
dc.subjectGROSS SALES
dc.subjectHARD BUDGET CONSTRAINTS
dc.subjectHOLDING
dc.subjectHOUSEHOLD INCOME
dc.subjectHUMAN DEVELOPMENT
dc.subjectINCOME TAX
dc.subjectINDEBTEDNESS
dc.subjectINEQUALITIES
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE FINANCING
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINITIAL DEBT
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE ADJUSTMENT
dc.subjectINTEREST RATES
dc.subjectINTEREST SUBSIDY
dc.subjectINTERGOVERNMENTAL FINANCE
dc.subjectINTERGOVERNMENTAL FISCAL TRANSFERS
dc.subjectINTERGOVERNMENTAL TRANSFER
dc.subjectINTERGOVERNMENTAL TRANSFERS
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTMENT FINANCING
dc.subjectINVESTMENT RATE
dc.subjectISSUANCE
dc.subjectISSUANCE OF BONDS
dc.subjectLACK OF TRANSPARENCY
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLEVEL OF GOVERNMENT
dc.subjectLICENSES
dc.subjectLONG-TERM INTEREST
dc.subjectLONG-TERM INTEREST RATE
dc.subjectLOW INTEREST RATES
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMATURITY
dc.subjectMEDIUM ENTERPRISE
dc.subjectMEDIUM ENTERPRISES
dc.subjectMEDIUM-TERM FISCAL
dc.subjectMINISTRY OF FINANCE
dc.subjectMORAL HAZARD
dc.subjectMULTILATERAL LENDERS
dc.subjectMUNICIPALITIES
dc.subjectMUNICIPALITY
dc.subjectNATIONAL TREASURY
dc.subjectNET CURRENT REVENUES
dc.subjectNET DEBT
dc.subjectNET REVENUES
dc.subjectNEW ENTRANTS
dc.subjectOIL PRICE
dc.subjectOUTSTANDING AMOUNT
dc.subjectOUTSTANDING LOANS
dc.subjectPENSIONS
dc.subjectPOLITICAL ACCOUNTABILITY
dc.subjectPRIVATE BORROWERS
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCTIVITY
dc.subjectPROPERTY TAX
dc.subjectPROVISIONS
dc.subjectPUBLIC
dc.subjectPUBLIC BANKS
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE MANAGEMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SERVICE
dc.subjectPUBLIC SERVICE PROVISION
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC SPENDING
dc.subjectRATES OF RETURN
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATES
dc.subjectREDISTRIBUTION
dc.subjectREFORM PROGRAMS
dc.subjectRENEGOTIATION
dc.subjectRENEGOTIATIONS
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectREVENUE COLLECTION
dc.subjectREVENUE COLLECTIONS
dc.subjectREVENUE EQUALIZATION
dc.subjectREVENUE INCREASE
dc.subjectREVENUE LOSS
dc.subjectREVENUE SHARING
dc.subjectREVENUE SHARING SCHEME
dc.subjectREVENUE SOURCE
dc.subjectREVENUE SOURCES
dc.subjectSETTLEMENT
dc.subjectSOCIAL SECURITY
dc.subjectSOLVENCY
dc.subjectSOURCES OF FUNDS
dc.subjectSTATE GOVERNMENTS
dc.subjectSTATE OWNED BANKS
dc.subjectSUBNATIONAL
dc.subjectSUBNATIONAL DEBT
dc.subjectSUBNATIONAL FINANCE
dc.subjectSUBNATIONAL FINANCES
dc.subjectSUBNATIONAL FISCAL ISSUES
dc.subjectSUBNATIONAL GOVERNMENT
dc.subjectSUBNATIONAL GOVERNMENTS
dc.subjectSUBNATIONAL LENDING
dc.subjectSUBSIDIARY
dc.subjectTAX
dc.subjectTAX ADMINISTRATION
dc.subjectTAX BASE
dc.subjectTAX BURDEN
dc.subjectTAX COLLECTION
dc.subjectTAX COLLECTIONS
dc.subjectTAX COMPLIANCE
dc.subjectTAX COSTS
dc.subjectTAX CREDIT
dc.subjectTAX CREDITS
dc.subjectTAX EXEMPTION
dc.subjectTAX INCENTIVE
dc.subjectTAX INCENTIVES
dc.subjectTAX PAYMENTS
dc.subjectTAX POLICIES
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX REFORMS
dc.subjectTAX REGIME
dc.subjectTAX REGIMES
dc.subjectTAX REVENUE
dc.subjectTAX REVENUE SHARING
dc.subjectTAX REVENUES
dc.subjectTAX SYSTEM
dc.subjectTAX TREATMENT
dc.subjectTAXATION
dc.subjectTOTAL DEBT
dc.subjectTRANSACTION
dc.subjectTRANSPORT
dc.subjectTRANSPORTATION SERVICES
dc.subjectVALUATION
dc.subjectWAREHOUSE
dc.subjectWAREHOUSES
dc.titleImpact and Implications of Recent and Potential Changes to Brazil's Subnational Fiscal Frameworken
dspace.entity.typePublication
okr.date.disclosure2014-10-28
okr.date.doiregistration2025-05-07T10:09:46.356458Z
okr.doctypeEconomic & Sector Work::Public Expenditure Review
okr.docurlhttp://documents.worldbank.org/curated/en/2013/09/18423427/impact-implications-recent-potential-changes-brazils-subnational-fiscal-framework
okr.globalpracticeMacroeconomics and Fiscal Management
okr.guid226551468231567935
okr.identifier.externaldocumentum000356161_20131022150442
okr.identifier.internaldocumentum18423427
okr.identifier.reportACS5885
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/10/22/000356161_20131022150442/Rendered/PDF/ACS58850WP0P130official0use0only090.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryBrazil
okr.sectorPublic Administration, Law, and Justice :: Sub-national government administration
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themePublic sector governance :: Decentralization
okr.themePublic sector governance :: Tax policy and administration
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicMacroeconomics and Economic Growth::Subnational Economic Development
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPublic Sector Economics
okr.topicBanks and Banking Reform
okr.topicPublic Sector Development
okr.unitEconomic Policy Sector (LCSPE)
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