September 18, 2019 / 3:16 PM / a month ago

No plans for payroll tax cuts, levy on financial transactions in Brazil tax reform - senator

BRASILIA, Sept 18 (Reuters) - Reform of Brazil’s complex tax system will not include a financial transactions tax or reductions to companies’ payroll tax contributions, the Senator in charge of steering the bill through Congress said on Wednesday.

Roberto Rocha, coordinator of the reform bill being debated in the Senate, also told a Constitutional and Legal Affairs Committee hearing in Brasilia that a ‘dual’ value-added tax (VAT) will be in his final proposals and that the overall tax burden will not be increased. (Reporting by Marcela Ayres Writing by Jamie McGeever, Editing by Franklin Paul)

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