Corporate Tax

Brazil’s revised reform proposal deepens corporate tax cuts

A new draft of Brazil’s tax reform envisaged a bolder corporate tax cut while addressing some of the major market concerns about the original text.

After the draft law rapporteur, Lower House MP Celso Sabino, said the draft law presented by Economy Minister Paulo Guedes would be almost entirely rewritten, he released his version on Tuesday in a series of tweets and a press conference. One of the most important changes: corporation tax will fall in the next two years by 12.5 percentage points, more than the originally proposed 10 percentage points, to 2.5 percent.

The income thus lost …

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