The Brazilian Chamber of Deputies Judiciary Committee on Wednesday approved a sweeping proposal to overhaul the nation’s tax system. The proposal will now move on to a special Chamber of Deputies committee which will review the proposal in detail. The proposal would abolish five federal, state and local taxes, rolling them into a single nationwide value-added tax. The aim is to streamline the tax system. The proposal is revenue neutral. The proposal was presented by members of Congress, not by the administration of President Jair Bolsonaro. Finance Minister Paulo Guedes, however, has said the administration favors the proposal’s approach.
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