The South American giant has been seeking new sources of revenue to meet its fiscal goals, which include reducing the fiscal deficit to zero, while resisting sweeping spending cuts.

The Brazilian government published a decree late on Thursday that effectively establishes a minimum tax of 15% on the profits of multinationals, according to a publication in the country's official gazette.

Brasilia has been seeking new sources of revenue to meet its fiscal goals, which include reducing the fiscal deficit to zero, while resisting sweeping spending cuts. It says the new measure is in line with global efforts to combat tax evasion.

The executive order establishes an additional levy on the Brazilian social contribution on corporate income (CSLL) to ensure that the minimum tax rate is set at 15%, according to the publication.

Brazilian officials had previously said the move was being considered both as a way to align the country with fiscal discussions it has been addressing as G20 president and to ensure the 2025 fiscal target is met.

The move comes as Brazil "adapts to the Global Rules against Base Erosion (GloBE Rules) developed by the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting," says the order signed by President Luiz Inácio Lula da Silva.

Brazil's Finance Ministry did not immediately detail how much it expects to raise in additional tax revenue from the move. Government officials will hold a news conference on the issue later on Friday, the ministry said.

Decrees in Brazil are effective immediately, but must be approved by lawmakers within four months or they expire.