Senator Braga will discuss his report on Tax Reform today, the Senate will vote on the payroll tax relief bill, and the House will vote on the bill that deals with the taxation of offshore and exclusive funds

BRAZIL POLITICS - Report 25 Oct 2023 by Murillo de Aragão and Cristiano Noronha

Today, Senator Eduardo Braga (MDB-AM) holds a press conference to present the general lines of his report on Tax Reform. The text will be formally presented today at the Constitution and Justice Committee (CCJ). In the Senate plenary, the bill that deals with payroll tax relief will be put to a vote today. The text allows municipalities with a population of less than 142,600 inhabitants to have their social security contribution rate on payroll reduced from 20% to 8%. In other news, the House will vote on the bill that deals with the taxation of offshore and exclusive funds. Changes to the text are still being negotiated, such as equating the taxation of future income from offshore companies to the tax rate of exclusive funds.

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