Brazil to vote on tax reform next week, corporate profit changes seen

Brazil to vote on tax reform next week, corporate profit changes seen
# 29 July 2021 01:59 (UTC +04:00)

Brazil's lower house of Congress is expected to vote on tax reform next week, with the bill likely be amended to exclude certain small companies' profit and dividend taxes, senior lawmakers steering the process said on Wednesday.

Voting on the stage of the bill aimed at simplifying and lowering personal, income taxes and levies on corporate profits will take place when Congress returns from recess next week, Speaker Arthur Lira told GloboNews.

Speaking in Brasilia, deputy Celso Sabino, the bill's sponsor in the lower house, said small firms registered with the "Simples" tax regime will likely be exempt from paying tax on profits and dividends.

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THE OPERATION IS BEING PERFORMED