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Murray News

Under pressure, government revokes Pix oversight rule

After wave of fake news, Lula administration withdraws regulation targeting transactions above R$5,000

01/17/2025


Facing a surge of misinformation about taxes on the popular Central Bank’s instant-payment system, known as Pix, the Lula administration revoked on Wednesday (15) a regulation from the Federal Revenue that had caused political embarrassment. The rule sought to increase oversight of monthly transfers exceeding R$5,000 made by individuals. In a damage-control effort, the government also issued a provisional presidential decree (MP) to reaffirm the free nature of Pix and equate the instant payment system to cash transactions.

The announcement came after President Lula summoned Finance Minister Fernando Haddad, Federal Revenue Secretary Robinson Barreirinhas, and Attorney General Jorge Messias to the Planalto Palace to address growing public dissatisfaction. Newly appointed Communications Minister Sidônio Palmeira also influenced the decision to revoke the rule.

“People distorted an act of the Federal Revenue,” Mr. Barreirinhas said. “We decided to revoke this measure. The rule turned into a weapon for criminals. The ‘Revenue’ will not tolerate its name being used for scams,” he added.

Mr. Haddad said the decision to issue an MP, emphasizing that the measure reinforces existing legislation ensuring Pix remains free. “Pix is protected by confidentiality, like any other payment method,” he said.

The MP will also guarantee that Pix payments are treated like cash, bank transfers, or checks, prohibiting “criminals” and businesses from charging fees for such transactions. “We’re ensuring by law that if Pix is available, buyers pay the same amount as they would with cash,” Mr. Haddad added.

As of the publication of this article, the measure had not yet been published in the “Official Gazette of the Union.”

The Finance Minister noted that the Central Bank, which created Pix, was consulted on the matter. He dismissed claims that a decline in Pix transactions in January was due to the misinformation campaign, attributing the drop to seasonal factors consistent with previous years.

The government’s U-turn followed widespread criticism and pressure from various sectors, including evangelical groups often critical of Lula administration.

Sources told Valor that pastors from different neo-pentecostal denominations contacted government intermediaries, warning that the controversy was reaching low-income communities, potentially eroding support for the Lula government.

The issue resonated with evangelicals partly because many churches rely on Pix for collecting tithes, the financial contributions made by congregants. In response, Mr. Lula’s aides worked with these influencers to mitigate the crisis’s impact.

Combating misinformation

Despite revoking the rule, the president and ministers discussed launching a new public campaign to counter misinformation about Pix. The effort may build on initiatives by Empresa Brasil de Comunicação (EBC) on social media.

During the announcement, Mr. Haddad criticized opposition figures and members of former President Jair Bolsonaro administration. “We revoked the rule to uproot this lie,” he said, referencing plans by former Finance Minister Paulo Guedes to propose a financial transaction tax, which never materialized.

Mr. Haddad also took aim at Senator Flávio Bolsonaro, who has faced allegations of embezzlement through kickback schemes. “The senator’s kickback schemes were uncovered because authorities flagged suspicious financial movements. Bolsonaro’s supporters can’t complain—they were caught by the Revenue,” Mr. Haddad said.

In response, Senator Bolsonaro issued a statement denying wrongdoing and criticizing the Lula administration, declaring, “I have a clean record.”

Attorney General Jorge Messias announced that he had directed the Federal Police to open an investigation to identify those behind the fake news campaign about Pix taxation. Mr. Messias also noted that authorities had detected “abusive practices in consumer relations” involving Pix and said the National Consumer Secretariat was being tasked with addressing potential violations.

Finally, the government plans to involve state governors in standardizing regulations related to Pix, aiming to prevent misuse and ensure consistency across the country.

*By Estevão Taiar, Renan Truffi e Fabio Murakawa – Valor — Brasília

Source: Valor International

https://valorinternational.globo.com/
17 de January de 2025/by Gelcy Bueno
Tags: government revokes Pix oversight rule, Under pressure
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