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The Tax Reform Working Group presented the first version of the text, the government requested an urgent status for the CBS and IBS Tax Reform bill, and Lula will participate in the Mercosur Summit next week
BRAZIL POLITICS · Report · 05 Jul 2024

The House Working Group on Tax Reform regulation on the Goods and Services Tax (IBS) and Contribution on Goods and Services (CBS) presented the first version of the text. The Selective Tax will be levied on vehicles, vessels, and aircraft, tobacco products, alcoholic and sugary beverages, mineral...

Lula said he will only appoint the next BC president when he is sure it will be quickly confirmed in the Senate, Campos Neto said Lula’s criticisms make it harder to control inflation, and the Tax Reform Working Group should submit its final report
BRAZIL POLITICS · Report · 03 Jul 2024

President Lula gave another interview to the press and addressed topics of market interest. He said he will only appoint the next Central Bank president when he is certain it will be quickly confirmed by the Senate. The appointment process goes through the Economic Affairs Committee and then the ...

Lula may sanction the PLP on active debt this week, the Tax Reform Working Group’s final report is expected to be submitted tomorrow, and the Working Group on the Management Committee will meet with governors
BRAZIL POLITICS · Report · 02 Jul 2024

The Minister of the Secretariat for Institutional Relations said the President is expected to sanction this week the Complementary Law Project (PLP) regulating the securitization of active debts of the Federal Government, states, Federal District, and municipalities. The presentation of the final...

The importance of Minas Gerais and other weekly topics
BRAZIL POLITICS · Report · 01 Jul 2024

This will be a busy week in Brasília. In the House, the highlight is the presentation of the Tax Reform Working Group report. In the Senate, the debate continues around payroll tax relief and compensatory measures. In the Executive branch, the highlight is the launch of the 2024-2025 Harvest Plan...

The House Working Group on Tax Reform may present its report on July 3, the rapporteur of the payroll tax relief bill should present his report this week, and the CCJ will discuss the PEC on the Central Bank’s autonomy
BRAZIL POLITICS · Report · 01 Jul 2024

The report from the House Working Group on Tax Reform regulation is expected to be presented on Wednesday, July 3. The House President, Deputy Arthur Lira (PP-AL), is attempting to secure the approval of the text in the plenary next week. Senator Jaques Wagner (PT-MG), the rapporteur of the bill ...

Lula spoke about the Minas Gerais federal debt in an interview, he also discussed the 2026 presidential election, and Congress should continue to discuss payroll tax relief next week
BRAZIL POLITICS · Report · 28 Jun 2024

President Lula (PT) gave another interview to the press and addressed topics of interest to the market. According to him, the bill that will create an alternative for the debt of Minas Gerais should be completed within fifteen days. Regarding 2026, Lula said that the only scenario in which he cou...

Lula's interview with UOL has caused some noise in the market, Lira said the report on Tax Reform regulation should be presented on July 3, and Lula will chair a meeting of the CDES
BRAZIL POLITICS · Report · 27 Jun 2024

One of President Lula's interviews has once again caused market disturbances. Yesterday, in an interview with the news outlet UOL, Lula stated that it is not possible to unlink the Continuous Payment Benefit (BPC) and pensions from the minimum wage appreciation policy. Regarding the regulation of...

Lula met with Haddad to discuss the decree on the inflation target, Pacheco’s negotiations on state debt are advancing, and Governor Zema stated he is considering running in the 2026 presidential elections
BRAZIL POLITICS · Report · 26 Jun 2024

Yesterday, President Lula met with the Minister of Finance, Fernando Haddad, and others regarding the decree that regulates the change in the inflation target. The President approved the decree that changes the annual inflation target regime to a continuous target model starting in 2025, with a t...

The rapporteur of the LDO met with Haddad to discuss the zero-deficit target, the government is optimistic about Tax Reform, and former STF Justice Barbosa criticized Lula on social media
BRAZIL POLITICS · Report · 25 Jun 2024

Yesterday, the rapporteur of the Budget Guidelines Law (LDO), Senator Confúcio Moura (MDB-RO), met with the ministers of Finance, Fernando Haddad, and Institutional Relations, Alexandre Padilha. The senator confirmed that he would maintain the zero-deficit target for 2025 and that he would presen...

Funding for payroll tax relief and other weekly topics
BRAZIL POLITICS · Report · 24 Jun 2024

Reduced activity in Congress this week due to the June festivals. This week the House Working Group on Tax Reform regulation concludes the phase of public hearings and begins drafting a final text. The Executive Office and Senate continue their efforts in search of compensatory measures for payro...

Slower week in Congress, the Tax Reform Working Group will hold its final public hearings, and the government will announce the 2024/2025 Harvest Plan
BRAZIL POLITICS · Report · 24 Jun 2024

This week will be slower in Congress due to the June festivities, which are very important for many congressmen, especially because of the upcoming municipal elections. This is the last week of activity in the Judiciary. The Working Group on Tax Reform will hold its last four public hearings this...

The pace of legislative activity will be reduced next week, the Tax Reform Working Group will hold its final public hearings, and the government will announce the 2024/2025 Harvest Plan on Wednesday
BRAZIL POLITICS · Report · 21 Jun 2024

Due to the June festivals, activity in the National Congress will be significantly reduced next week. However, important discussions will continue. Next week, the Tax Reform Working Group will hold its final public hearings on the regulation of the matter. The goal is to present the final text on...

Padilha said he will soon find the funding source for compensatory measures for payroll tax relief, there will be no legislative activity next week, and the Central Bank decided to maintain the basic interest rate
BRAZIL POLITICS · Report · 20 Jun 2024

Yesterday, the Minister of the Secretariat for Institutional Relations, Alexandre Padilha, said that the government expects to reach an agreement with Congress and business leaders within two weeks to establish a source of compensation for the payroll tax exemption. Padilha's deadline is the firs...

The economic team is still waiting for the compensatory measures for payroll tax relief, the Budget committee should present a proposal on spending cuts, and the rapporteur of the BC autonomy bill reads his report
BRAZIL POLITICS · Report · 18 Jun 2024

Finance Minister Fernando Haddad said that the economic team is waiting for compensatory proposals for payroll tax relief so that the Federal Revenue Service can run its calculations. The total cost of the tax exemption is R$ 26 billion. Yesterday, Lula had a meeting with the Budget Committee, wh...

The spending-cut agenda and other weekly topics
BRAZIL POLITICS · Report · 17 Jun 2024

The debate between the government and Congress over compensatory measures for payroll tax relief continues. The President of the Senate meets with governors to discuss state debt, and a proposal may be presented to President Lula this week. The Tax Reform Working Group in the House begins discuss...

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