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Bolsonaro On Tax

BRAZIL

President Bolsonaro:

  • Brazil may decide on federal taxes changes today
  • New fuel price change expected in next few days
  • Govt studying changes on diesel taxation first
  • Brazil govt seeking to set value of ICMS tax (all bbg)

This is very much in line with previous comments via twitter that they are close to announcing a cut to federal taxes on fuel.

  • Rise in fuel prices is pressuring inflation and creating friction with truck drivers.

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