Brazil plans inheritance tax to pay for exemptions

The finance ministry said in a statement the bill would increase the income tax brackets by 5 percent, which would raise the take-home pay for more middle-class workers.

The measure will cost the government 5 billion reais in loss revenue per year, which the finance ministry said will be compensated by tax increases on inheritance, donations, image copyrights among other levies.

(Reporting by Alonso Soto)