- The Senate’s version of tax reform legislation in Brazil includes exemptions that increase the standard VAT rate by a half-percentage point.
- The Finance Ministry’s technical team estimated that the new tax rate would be between 25.45% and 27%.
- With the changes, the rate can reach a maximum of 27.5%.
- The Senate’s Constitution and Justice Commission is set to vote on the legislation.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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