Guardia sees no possibility of approving tax reform this year

Guardia sees no possibility of approving tax reform this year

Finance Minister Says There Are A Lot Of Fiscal Problems To Be Solved Before Further Reform

Guardia says there are a lot of tax issuesWilson Cruz / Brazil AgencyFinance Minister Eduardo Guardia said on Monday evening in Sao Paulo that he did not see the "slightest possibility" that a broad tax reform could be voted on and approved in 2018. According to the minister There are a number of fiscal problems that need to be resolved before reform can proceed.“Comprehensive tax reform I do not see the slightest possibility of being approved this year.What we have to do is move in the right direction: we have to correct the PIS, Cofins, we have to correct the distortions of the ICMS.Correcting the distortions of these taxes, we can think of a national VAT, ”said an event sponsored by the newspaper Valor Econômico.VAT (Value Added Tax), quoted by the minister, would unify at one rate several taxes such as ICMS (Tax on Circulation of Goods and Services), ISS (Tax on Services), and IPI (Tax on Industrialized Products) .“But you can't wait ten years to reach national ...


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