{"id":39579,"date":"2026-10-14T00:00:00","date_gmt":"2026-10-14T00:00:00","guid":{"rendered":"https:\/\/angelboss.com.br\/2026\/10\/14\/334170-governo-cogita-alterar-regras-de-titulos-incentivados\/"},"modified":"2026-10-14T00:00:00","modified_gmt":"2026-10-14T00:00:00","slug":"334170-governo-cogita-alterar-regras-de-titulos-incentivados","status":"publish","type":"post","link":"https:\/\/angelboss.com.br\/en\/2026\/10\/14\/334170-governo-cogita-alterar-regras-de-titulos-incentivados\/","title":{"rendered":"Governo cogita alterar regras de t\u00edtulos incentivados"},"content":{"rendered":"<p>O governo federal est\u00e1 analisando mudan\u00e7as na tributa\u00e7\u00e3o de t\u00edtulos incentivados, atualmente isentos de Imposto de Renda para pessoa f\u00edsica, informou o secret\u00e1rio do Tesouro Nacional, Daniel Leal. Em <a rel=\"follow\" href=\"https:\/\/valor.globo.com\/financas\/noticia\/2026\/07\/08\/tesouro-quer-rediscutir-titulo-isento-diante-de-dificuldade-com-divida.ghtml?utm_source=edg_newsletter_geral&amp;utm_medium=newsletter&amp;utm_campaign=newsedicaododia\">entrevista<\/a> ao jornal Valor Econ\u00f4mico, Leal afirmou que esses pap\u00e9is provocam distor\u00e7\u00f5es que precisam ser enfrentadas para tornar o mercado de renda fixa mais eficiente, independentemente do resultado das pr\u00f3ximas elei\u00e7\u00f5es.<\/p>\n<p>Os t\u00edtulos incentivados s\u00e3o instrumentos de renda fixa emitidos por empresas para financiar projetos em setores estrat\u00e9gicos como energia, transporte, saneamento, telecomunica\u00e7\u00f5es, agroneg\u00f3cio e imobili\u00e1rio. Em 2025, a capta\u00e7\u00e3o de deb\u00eantures incentivadas atingiu <a rel=\"follow\" href=\"https:\/\/data.anbima.com.br\/publicacoes\/boletim-de-debentures-incentivadas-e-de-infraestrutura\/com-recordes-sucessivos-mercado-de-debentures-incentivadas-registra-maior-volume-anual-da-serie-historica-e-encerra-2025-em-alta?utm_source=copilot.com\"><strong>R$ 177,97 bilh\u00f5es<\/strong><\/a>, o maior volume anual desde o in\u00edcio da s\u00e9rie hist\u00f3rica em 2018.<\/p>\n<p>Segundo a Associa\u00e7\u00e3o Brasileira das Entidades dos Mercados Financeiro e de Capitais (Anbima), as aplica\u00e7\u00f5es em instrumentos com benef\u00edcio fiscal \u2013 incluindo CRAs, CRIs, LCIs, LCAs e deb\u00eantures incentivadas \u2013 cresceram 15,5\u202f% em 2025, totalizando <a rel=\"follow\" href=\"https:\/\/www.anbima.com.br\/pt_br\/imprensa\/investimento-dos-brasileiros-cresce-15-5-e-atinge-a-marca-de-r-8-5-trilhoes-em-2025-8A2AB2AB9C980D76019CBA8C5D187544-00.htm?utm_source=copilot.com\"><strong>R$ 1,43 trilh\u00e3o<\/strong><\/a>. Os certificados de receb\u00edveis imobili\u00e1rios (CRIs) registraram capta\u00e7\u00e3o de <a rel=\"follow\" href=\"https:\/\/www.anbima.com.br\/pt_br\/imprensa\/ofertas-no-mercado-de-capitais-atingem-r-838-8-bilhoes-e-batem-recorde-em-2025-8A2AB2AB9BE369BE019BE75EA80A6CCD-00.htm\"><strong>R$ 49 bilh\u00f5es<\/strong><\/a> no mesmo ano, refor\u00e7ando o papel da securitiza\u00e7\u00e3o no financiamento da constru\u00e7\u00e3o civil.<\/p>\n<p>Em junho de 2025, o governo tentou, por meio de Medida Provis\u00f3ria, tributar os t\u00edtulos isentos com al\u00edquota de 5\u202f% de IR e unificar as al\u00edquotas dos demais em 17,5\u202f%, substituindo a escala regressiva de 22,5\u202f% a 15\u202f% conforme o prazo de resgate. A MP n\u00e3o avan\u00e7ou no Congresso e perdeu validade.<\/p>\n<p>Juliana Mello, s\u00f3cia\u2011diretora da securitizadora <a rel=\"follow\" href=\"https:\/\/fortesec.com.br\/\">Fortesec<\/a>, observa que a demanda por CRIs, LCIs e deb\u00eantures incentivadas tem evolu\u00eddo significativamente e ainda h\u00e1 amplo espa\u00e7o para crescimento no Brasil, em compara\u00e7\u00e3o com mercados maduros, como os dos Estados Unidos e da Europa.<\/p>\n<p>A Fortesec atua no turismo, estruturando financiamentos de projetos imobili\u00e1rios voltados ao setor. Em 2025, turistas estrangeiros geraram recorde de <a rel=\"follow\" href=\"https:\/\/embratur.com.br\/2026\/01\/26\/turistas-estrangeiros-deixam-us-78-bilhoes-na-economia-do-brasil-em-2025-o-maior-valor-da-historia\/\"><strong>US$ 7,865 bilh\u00f5es<\/strong><\/a> para a economia brasileira, e entre janeiro e maio de 2026 os gastos chegaram a <a rel=\"follow\" href=\"https:\/\/bahiaeconomica.com.br\/2026\/06\/29\/gastos-de-turistas-internacionais-no-brasil-batem-recorde-em-2026-veja-ranking\/\"><strong>US$ 4,8 bilh\u00f5es<\/strong><\/a>, crescimento de 11,6\u202f% em rela\u00e7\u00e3o ao mesmo per\u00edodo do ano anterior. A tributa\u00e7\u00e3o dos t\u00edtulos incentivados pode desestimular investidores e comprometer recursos importantes para setores como imobili\u00e1rio, constru\u00e7\u00e3o civil e infraestrutura.<\/p>\n<p><img src='https:\/\/api.dino.com.br\/v2\/news\/tr\/334170?partnerId=4593' alt=\"\" style=\"border:0px;width:1px;height:1px;\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>Os setores imobili\u00e1rio, de infraestrutura e do agroneg\u00f3cio s\u00e3o beneficiados com t\u00edtulos com rentabilidade isenta de tributa\u00e7\u00e3o.<\/p>","protected":false},"author":3,"featured_media":39580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","page_builder":"","footnotes":""},"categories":[315],"tags":[341,324,369,355,378],"class_list":["post-39579","post","type-post","status-publish","format-standard","has-post-thumbnail","category-noticias-corporativas-dino","tag-economia","tag-negocios","tag-politicas","tag-relacoes-com-investidores","tag-turismo-e-viagem"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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