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Senate Intends To Return Tax Reform Bill To Lower House In October

BRAZIL
  • The Senate is intending to return the text of the tax reform to the lower house with the necessary changes by the end of October, senator and rapporteur Eduardo Braga told journalists on Wednesday. Braga added that there is an effort for the tax reform to be approved by the end of this year.
    • According to Finance Minister Fernando Haddad reform is an “almost revolutionary” fact due to the change in the economic environment
  • Eletrobras is in talks with the National Bank for Economic and Social Development (BNDES) to try to reduce the debts of the indirect subsidiary Santo Antônio Energia. The operator of the Rondônia hydroelectric plant currently has a debt of R$ 20 billion. Of this amount, around R$ 14 billion are with the BNDES and other banks.
      • According to Eletrobras' financial and investor relations director, the objective is to complete these negotiations by the end of Q3.
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