Brazil’s Economy Minister defends taxing the super-rich and exonerating companies

The minister also defended the end of all taxation on industry "to allow Brazil, which has all the raw materials, to be a world power." He said that the government is already following this path and mentioned the reduction in the Tax on Industrialized Products (IPI), promoted via decrees published at the end of last month.

RIO DE JANEIRO, BRAZIL - To unlock the tax reform in the Senate, Brazil's Minister of Economy, Paulo Guedes, said on May 9 that the government could present a "leaner" version of the project with the proposal to increase income tax on the super-rich and reduce taxes levied on companies.

"The time is now. We have already approved this reform in the Chamber [of Deputies]; it is stuck in the Senate. We can make a leaner version, taxing the super-rich and reducing the tax on companies," said Guedes when presenting a new tool to monitor investments in the . . .

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