The proposals currently up for debate in Congress would end a tax on industrialized products and some tariffs and replace them with either a single tax on goods and services or a federal and local tax. Last week, Appy told reporters the government believes the much-expected tax reform will pass in Congress by the end of this year, a delay from its initial target of the first half of the year. (Reporting by Maria Carolina Marcello; Editing by David Alire Garcia and Alistair Bell)
(Adds details, context)
BRASILIA, March 8 (Reuters) - A proposed tax reform in
Brazil will likely generate additional economic growth of 12%
over the next 15 years, the special secretary for tax reform,
Bernard Appy, said on Wednesday.
The tax reform would generate, by a "conservative" estimate,
a 12% increase in gross domestic product over 15 years, an 11%
increase in exports and 20% growth in investments, he told
federal lawmakers.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.