Brazil’s lower house approves tax reform bill in first round, awaits second round
2023.07.07 00:07
© Reuters. A general view shows the plenary of the Chamber of Deputies during a session to vote on a constitutional amendment that increases the government spending ceiling in Brasilia, Brazil December 20, 2022. REUTERS/Adriano Machado/File Photo
BRASILIA (Reuters) – Brazil’s lower house of Congress approved on Thursday in a first-round of voting the main text of a tax reform that will restructure the country’s complex consumption taxes.
Such reform has been attempted previously by various governments without success, and it is a key step in President Luiz Inacio Lula da Silva’s plan to boost growth.
The proposal can still be altered by amendments to be voted.
As the tax changes involve constitutional changes, the proposal will still need to undergo a second round of voting in the lower house before being sent to the Senate, where it will also be voted on in two rounds.
