The Financial Espresso: Cross Border tax updates; Desenrola 2.0; Brazilian ETF‘s; USD-denominated salary accounts in Argentina

Research evidence excerpt

The Financial Espresso: Cross Border tax updates; Desenrola 2.0; Brazilian ETF‘s; USD-denominated salary accounts in Argentina

Global Research

27 July 2026ab

The Financial Espresso Equities

Latin AmericaCross Border tax updates; Desenrola 2.0;

Brazilian ETF's; USD-denominated salary Financial

accounts in Argentina KaioAnalystPrato

kaio.prato@ubs.com

+55-11-3513 6573

Brazilian companies push to restore tax on low-value imports Thiago Batista, CFA

Analyst

According to Folha, Brazilian business groups have increased pressure on Congress thiago.batista@ubs.com

to reverse the provisional measure that eliminated the 20% import tax on +55-11-3513 6518

international purchases of up to US$50 through platforms such as Shopee, Shein and

Camila Azevedo

AliExpress. Domestic companies argue that the exemption increases competition

Associate Analyst

from imported products at a time when some Brazilian sectors are also affected by camila.azevedo@ubs.com

higher US tariffs. Industry representatives are seeking either a partial return of the +55-11-2767 6881

import tax or compensatory measures, including lower domestic taxes. The

Bruno Kenji

provisional measure must be approved by Congress by September 8 or it will expire

the following day.Our take: For MELI the MP may increase competition from Asian bruno.kenji@ubs.com

players in an already intense competitive landscape. However, the company is still +55-11-2767 6056

responding with further initiatives: it launched same-day deliveries on Sundays in

Beatriz Shinye

Bz and in the Fintech, Mercado Pago launched 'Conta Negócio' for SMEs.

beatriz.shinye@ubs.com

Desenrola 2.0 renegotiates R$44.1bn ahead of its deadline +55-11-2767 6569

According to Valor, Desenrola 2.0 renegotiated R$44.1bn in debts since its launch in