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Tax Reform Proposal To Be Assessed Ahead Of Lower House Vote Next Week

BRAZIL
  • Bloomberg reports that Congress is facing calls to alter the tax reform bill before it is voted on in the lower house next week. The final report presented by the lower house committee responsible for regulating the VAT this week included betting services and electric vehicles in the selective tax that will add a surcharge on products considered harmful.
  • Recent discussions have centred around tax exemptions on food items, which have not changed much from the government’s initial proposal, with meat for example kept with a 60% tax reduction. Lower house Speaker Lira, congressional and party leaders will now debate the bill before the vote scheduled for July 11.
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