Will Lula impose a 35% tax on any type of FGTS? The government has just decided!

Recently, thousands of workers have been fearful that the government will impose a 35% tax on FGTS.

In recent days, a new concern has gripped Brazilian workers, especially those with money deposited in the Severance Pay Fund (FGTS).

Social networks were filled with posts stating that the government had decided to impose a new tax on FGTS withdrawals, which would be equal to 35% of the available balance in the accounts.

The comments come at a time when the current government is experiencing instability, with taxes on online purchases, for example, sparking consumer discontent.

The social media post warns that the government will impose a 35% tax on FGTS.

A series of posts began circulating on social media, claiming that President Luiz Inácio Lula da Silva and Finance Minister Fernando Haddad had issued a decree imposing a new 35% tax on FGTS, and more specifically cancelling the withdrawal.

According to these publications, the government will impose taxes on all workers who lose their jobs without just cause and need to access the accumulated balance in the FGTS.

As a reminder, termination of FGTS withdrawal is a right of workers dismissed without just cause, allowing them to withdraw part of the amount accumulated during their years of work.

The post circulating on social media includes text stating that as of August 8, 2024, this new tax will be applied, affecting all workers who need to withdraw amounts.

Furthermore, the post refers to a supposed 23% tax on amounts exceeding R$100,000 in savings accounts, generating further panic among Internet users.

Find out more: How do I know if I have FGTS to receive? You may be able to withdraw today.

Does President Lula really intend to tax the Social Security Fund?

Despite the message being widely circulated on social media, it is important to keep in mind that the supposed 35% tax on FGTS is nothing more than fake news. The same applies to taxing savings of more than R$100,000 or less.

The Social Communication Secretariat of the Presidency of the Republic issued an official memorandum completely denying this information.

According to the statement, there is no expectation or intention of the federal government to apply a tax to the severance pay fund, whether in a withdrawal termination or any other type of FGTS.

Find out more: How to Check FGTS: Find out how to check your balance using your CPF without leaving home

FGTS calls on workers to receive R$15 billion in August

While false information is circulating about FGTS taxes, another important piece of news, true this time, is drawing attention: FGTS Dividend Distribution.

In 2023, the Service Time Guarantee Fund recorded a historic profit of R$23.4 billion, of which R$15 billion will be distributed to workers in August 2024.

Indeed, these amounts have already been deposited into the accounts of employees who had a balance on December 31, 2023.

The amount distributed is proportional to the balance maintained in the FGTS account on December 31 of the previous year, multiplied by the specified distribution index.

For example, a worker with R$6,000 in the account will receive a profit of approximately R$161.60.

How can I be sure that I will get the profit?

To check if you have received your FGTS dividend, follow these steps:

• Access to the FGTS app:Download or open the file FGTS Application On your cell phone.
• Login: Use your CPF and password to access your account.
• Check the statement: In the main menu, select the Statement option and check the added amount.
• If in doubt, check the official website.: Visit the Caixa Econômica Federal website for more detailed information.

These simple steps ensure that you can quickly verify receipt of your FGTS earnings.

Find out more: How to withdraw FGTS? Updated guide with all methods