Brazil Most Likely to See a Major Tax Reform by October

Feb 6

Brazil plans to approve a major tax reform by October.

One of the priorities is to tax the distribution of dividends.

A digital tax on financial transactions may be implemented also.

Its first phase may include the consolidation of the Social Integration levy (PIS) Program and the Contribution for the Financing of Social Security (COFINS) into a single tax on goods and services.

In the second phase, there may change in the manufactured products (IPI) and excise taxes on alcohol and cigarettes.

The third phase includes cutbacks in business and payroll taxes.

Brazil Most Likely to See a Major Tax Reform by October

Gilda Almeida

Brazil Most Likely to See a Major Tax Reform by October

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