> It was a tax you had to pay 0,38%.everytime you would move money and pay for somethin. Important untaxed exceptions were pension income, "wage earner" income

> It was a tax you had to pay 0,38%.everytime you would move money and pay for somethin. Important untaxed exceptions were pension income, "wage earner" income and stock trading (this last one always baffled me). > this means by law the money need to be destined to a specific target (public health). But because the goverment would use it to balance its accounts insted of invest in the public helth system it was extinct in 2007. CMPF funding could only be used by healthcare, pensions and social welfare. Universal healthcare systems are expensive. Brazil (and any other country, really) universal healthcare system needed and had a reasonably big budget that was paid basically by CPMF alone, so all the other combined taxes and contributions paid for everything else. The government, by law, could not "move" the funds to anything else. The reason it was extinct is because it was a direct tax over wealth translation of "the establishment"/"the banked class" - around that time more that 60% of Brazil was unbanked and therefore not directly affected. Now that Brazil no longer has a contribution specifically destined to healthcare and pensions, both it's universal healthcare system and pension system are in a much worse state.