The tax reform proposed by the president of Brazil, Lula da Silvaintends to increase value added tax (VAT). 27.5%. That makes it the highest percentage in the world.
Currently, Hungary has the highest VAT value, namely 27%. They are followed by Norway and Denmark with 25% and Finland with 24%.
According to Right DiaryBrazil did not apply VAT directly, but instead taxed sales through the goods and services tax and other internal tax rates.
Up to 17 years in prison for three convicted of invading Brazil’s Congress in support of Bolsonaro
These taxes would be unified under the new VAT proposed by Lula da Silva. In addition, the state could introduce new taxes on exports, services, energy, fuels and mineral exploitation.
Under Lula’s government, Brazil is ready to take on the world’s greatest challenge@55investing https://t.co/7IXjKfXnlp
— Political connection (@conexaopolitica) November 6, 2023
The reform proposed by Lula will be put to a vote in Brazil’s Senate committee. The initiative has already collected more than 700 reviews and will have its first round of voting in the plenary tomorrow and another round of voting the following day.
To be approved in the plenary meeting, the government needs at least 49 votes. (JO)
Source: Eluniverso
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