RIO DE JANEIRO, BRAZIL - The special secretary of Treasury and Budget of the Ministry of Economy, Bruno Funchal, said on Friday (3) that the reform of the Income Tax (IR) approved by the Chamber of Deputies this week will reduce the federal government's tax collection by R$20 (US$5) billion per year. This number does not take into account possible losses by states and municipalities.
According to him, this represents a reduction in tax burden equivalent to 0.2 percentage points of GDP. According to data from the National Treasury, the gross tax burden of the federal, state . . .
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