- Brazil’s Senate approved a tax reform to simplify the country’s tax code
- The reform received 53 votes in favor and 24 against
- The proposal will need to go through the lower house again due to changes made by the senators
- The reform includes replacing five existing levies with two value-added taxes
- It also includes a selective tax on items like cigarettes
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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