On July 7, Brazil's lower house preliminarily approved Brazil's tax reform with 382 votes in favor and 118 against, far above the minimum requirement of 308 votes. The bill’s passage is a victory for current President Lula da Silva, who has fought to simplify the country’s notoriously complex tax code in a bid to boost growth and reduce corruption.
If Brazil's upper house approves the bill with three-fifths of the vote, the reform will simplify Brazil's famously onerous tax law, which will help generate economic growth. However, the reform has a slow transition time, so companies operating in Brazil will not enjoy its changes in the short term. The bill's passage in the Chamber of Deputies is also a defeat for former President Jair Bolsonaro, who lobbied heavily against the tax reform, as even some members of his own party voted to support it.
The reform would merge several taxes into two different value-added taxes, one federal and one local, between 2026 and 2032. In addition, the reform would transition over the next 50 years the system of taxation regarding where goods are produced to the point of consumption.
RANE (Risk Assistance Network + Exchange), is a global risk intelligence company that provides risk and security professionals with access to critical insights, analysis and support, enabling them to better anticipate, monitor and respond to emerging risks and threats. Join the millions who are tapping into the collective wisdom of the world’s largest community of risk and business professionals. For more information about RANE, visit www.ranenetwork.com.
Connect with RANE on Social Media:
Twitter: [ Ссылка ]
Facebook: [ Ссылка ]
Instagram: [ Ссылка ]
LinkedIn: [ Ссылка ]
YouTube: [ Ссылка ]
Substack: [ Ссылка ]
Follow the RANE Podcast Series wherever you get your podcasts:
Apple - [ Ссылка ]
Spotify - [ Ссылка ]
Google - [ Ссылка ]
Amazon - [ Ссылка ]
TuneIn + Alexa - [ Ссылка ]
iHeartRadio - [ Ссылка ]
Player FM - [ Ссылка ]
Listen Notes - [ Ссылка ]
Podchaser - [ Ссылка ]
Boomplay - [ Ссылка ]
Advertise your brand on the RANE Podcast Series today! Follow the link below:
[ Ссылка ]
#brazil #lulapresidente #luladasilva #jairbolsonaro #risk #riskmanagement #geopolitics #politics #taxreform #security #cybersecurity
