The central issue now is how to increase the chances of recovering this withheld tax and, based on that, evaluate alternative investment options.

Our partner and Head of Wealth Planning, Roberto Freitas, spoke with Patricia Valle from Wealth Point, NeoFeed’s videocast, alongside Hermano Notaroberto Barbosa, partner in the Tax Law practice at BMA Advogados, about the impacts of dividend taxation and the challenges the new rule brings to portfolio construction.

In the interview, when addressing the changes in dividend taxation expected to take effect in 2026, Roberto highlighted how this new environment alters portfolio composition and the dynamics of tax and financial planning for high-net-worth investors. Law No. 15,270 establishes a monthly withholding tax of 10% on dividends exceeding BRL 50,000 from the same company, in addition to an annual adjustment that ensures a minimum effective tax rate of 10% on high levels of income.

In light of this new context, Roberto emphasized that investors should focus on tax planning, seeking to understand how to increase the likelihood of recovering the withheld amounts and evaluating allocation alternatives that help optimize net investment returns.
An essential conversation on how to navigate this new tax puzzle with strategy and a long-term perspective.

Watch the full interview here