Lawmakers in Brazil’s lower house of Congress approved on Tuesday a bill that includes regulations needed to implement a constitutional tax reform, following a Senate vote to approve the bill. The proposal will now head to President Luiz Inacio Lula da Silva for his signature.The bill sets rules needed to consolidate five existing taxes into a single consumption levy, also known as a value-added tax (VAT), with separate federal and regional rates.
Source: reuters.com
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