Sunday , September 20 2020

New FGTS withdrawal rules pass in the Senate


The Senate's plenary Senate approved on Tuesday (12th) an interim measure (MP 889/19) that exempts withdrawals from service-time guarantee (FGTS). The measure has passed the House and the law that makes the lawmaker into law is now a presidential sanction. Congress changed the content of the measure by increasing its immediate withdrawal from $ 500 to $ 998 on minimum wage accounts in July, when the measure was signed by President Baird Boulsonaro.

In addition, parliamentarians reduced the remuneration for CGTS management from 1% to 0.5% and in turn maintained Hicks' monopoly over the fund's operations. A bill approved to convert a lawmaker ends up with an additional 10% penalty for companies firing unjustly. In addition, the text formulated by the congressmen assumed the power of the Minister of Economy to define the criteria for using the resources of the Workers Support Fund (FAT) applied to BNDES and returned to the fund. The task will be with the JAT (Kodefat) Discussion Board.

Another amendment puts a limit on the ICTS resources that can subsidize social housing programs. The proposal states that up to 40% of the fund's profits can be used for this purpose in 2020, with a gradual reduction: 38% in 2021, 36% in 2022 and 33.3% in 2023.

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