Brazil Senate Approves Tax Bill

After two voting rounds, the Bill was approved on November 8, 2023.

It will consolidate five existing multi-tiered taxes into two VAT taxes: a federal and a state and municipal VAT.

There will be progressive taxation on inheritance and gifts.

 The Bill also covers digital services, sources of income, and places of sale.

The Bill will be appreciated by the Lower House (Câmara dos Deputados) and requires its majority votes in a two-round vote.  

If the Bill is approved in 2023, it will be in force on January 1st, 2024.