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Brazil’s Congress passes basic income tax reform text

RIO DE JANEIRO, BRAZIL - After an agreement between Chamber of Deputies president Arthur Lira and deputies who were still resisting the bill, the full membership approved the Income Tax reform bill on Wednesday, September 1.

The plenary is yet to vote on rider amendments, suggestions for changes to the approved basic text made by individual deputies. After approval by the Chamber, the bill needs to be approved by the Senate before heading to president Jair Bolsonaro for enactment into law.

Among other measures, the bill foresees a reduction in corporate income tax and the creation of a tax on dividends . . .

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