No menu items!

Brazil’s Economy Minister intends to cut US$7.6 billion in subsidies to lower corporate income tax

RIO DE JANEIRO, BRAZIL - According to the government's initial draft, the Corporate Income Tax rate would drop 5 percentage points - from 25% to 20% - in two years, half in 2022 and the remainder in the following year.

The economic team intends to start a political war between the thousands of Brazilian companies and a fraction of large companies in the beverage and petrochemical product sectors.

The goal is to reach a higher reduction in Corporate Income Tax (IRPJ) for all companies in Brazil linked to a significant cut in tax subsidies (revenue that the federal government waives) that are . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?

Check out our other content