{"id":96304,"date":"2025-10-21T17:46:35","date_gmt":"2025-10-21T20:46:35","guid":{"rendered":"https:\/\/murray.adv.br\/?p=96304"},"modified":"2025-10-21T17:47:43","modified_gmt":"2025-10-21T20:47:43","slug":"banks-fintechs-duel-over-taxation","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/banks-fintechs-duel-over-taxation\/","title":{"rendered":"Banks, fintechs duel over taxation"},"content":{"rendered":"
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Traditional institutions have higher nominal tax rates and advocate for equality; rivals see lower effective rates<\/em><\/h6>\n<\/div>\n<\/div>\n
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10\/21\/2025<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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The Brazilian Federation of Banks (Febraban) has intensified its conflict with fintechs over taxation. According to\u00a0Valor<\/strong>, the dispute escalated behind the scenes regarding Provisional Presidential Decree 1303, when fintechs opposed an increase in the Social Contribution on Net Profit (CSLL) rate that would apply to them and, in response, proposed raising the rate for traditional banks.<\/p>\n<\/div>\n

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In a report released on Monday,\u00a0Febraban<\/strong>\u00a0outlines arguments against fintechs paying a lower CSLL rate and advocates for tax fairness. The organization strongly criticizes\u00a0Nubank<\/strong>. \u201cIt seems unjustifiable that the world\u2019s most profitable financial institution (The Banker), with the highest valuation in the banking industry (Bloomberg), with bank explicitly in its name, 100 million accounts, the second-largest card portfolio, R$200 billion in personal loans, and 67% annual interest for households, pays a nominal CSLL rate lower than that of banks. This is very difficult to explain!\u201d stated Febraban, which represents traditional banks.<\/p>\n<\/div>\n

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When contacted, Nubank said it was pleased to see that Febraban finally acknowledged that fintechs already pay higher effective tax rates than large banks. However, it alleges that the federation uses biased arguments to harm competition and penalize fintechs that have promoted financial inclusion in Brazil.<\/p>\n<\/div>\n

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\u201cNubank is proud to have spearheaded a transformation in the sector, increasing competition and access to credit, and reducing interest rates, always focused on offering the best products and services to its customers. We did this through an efficient business model, technological innovation, regulatory compliance, and paying an effective tax rate in Brazil of 34.1%, the highest among the largest companies in the sector,\u201d it said in a statement.<\/p>\n<\/div>\n

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For Febraban, banks and fintechs should pay the same tax rate. Fintechs argue that while banks\u2019 nominal tax rate is higher, their effective tax rate is lower due to factors that reduce it. Febraban says that discussing the effective tax rate without showing the tax calculations is a failure to engage in the debate.<\/p>\n<\/div>\n

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The study also responds to comments by Roberto Campos Neto, former president of Brazil\u2019s Central Bank and current vice president and global head of public policy at Nubank, who said last week that fintechs have a higher effective tax rate than banks.<\/p>\n<\/div>\n

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*By \u00c1lvaro Campos, Valor\u00a0\u2014 S\u00e3o Paulo
\nSource: Valor International
\nhttps:\/\/valorinternational.globo.com\/<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Traditional institutions have higher nominal tax rates and advocate for equality; rivals see lower effective rates     10\/21\/2025 The Brazilian Federation of Banks (Febraban) has intensified its conflict with fintechs over taxation. According to\u00a0Valor, the dispute escalated behind the scenes regarding Provisional Presidential Decree 1303, when fintechs opposed an increase in the Social Contribution […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[8251,26537],"class_list":["post-96304","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-banks","tag-fintechs-duel-over-taxation"],"yoast_head":"\nBanks, fintechs duel over taxation - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/banks-fintechs-duel-over-taxation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks, fintechs duel over taxation - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Traditional institutions have higher nominal tax rates and advocate for equality; rivals see lower effective rates     10\/21\/2025 The Brazilian Federation of Banks (Febraban) has intensified its conflict with fintechs over taxation. 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