Broad Tax Reform Could Lead to Cuts, Says Brazilian Economy Minister

The Minister has advocated the introduction of an electronic payments tax to offset reductions in payroll taxes.

RIO DE JANEIRO, BRAZIL - Economy Minister Paulo Guedes said yesterday, July 29th, that with a broad taxation base - with more people and companies paying taxes - reducing and even extinguishing taxes is feasible. Guedes was in a meeting with the tax reform rapporteur in Congress yesterday, Deputy Aguinaldo Ribeiro, to discuss the text submitted by the government.

The Secretary of the Presidency of the Republic, Luiz Eduardo Ramos, and the Special Secretary of the Federal Treasury, José Tostes, also attended the meeting at the Planalto Palace.

According to Guedes, the reform will lead to a redistribution of the tax burden, broadening . . .

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