July 21, 2020 / 10:23 PM / 20 days ago

Brazil to put forward further tax reform proposals in 20-30 days -federal revenue chief

BRASILIA, July 21 (Reuters) - Brazil’s government aims to present further elements of its broad tax reform proposals in 20 to 30 days, federal revenue service chief Jose Barroso Tostes Neto said on Tuesday, noting that plans for payroll tax exemptions are being drawn up.

Tostes Neto was answering reporters’ questions in a virtual press conference after the government presented the first part of its long-awaited tax reform program to congressional leaders, which centered on a newly-created federal 12% value-added tax to replace two consumption taxes.

Reporting by Marcela Ayres and Jamie McGeever Editing by Chris Reese

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