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LatinNews Daily - 17 July 2019

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In brief: Brazil tax reform proposals "almost ready"

* Brazil’s Economy Minister Paulo Guedes has said that the government is almost ready to submit a tax reform proposal to congress. With the pension reform, the government’s first priority, on track to being approved by September or October, Guedes and his team are now turning their attention to a reform aimed at simplifying the tax system, most likely through unifying different federal levies under a single value-added tax. Guedes has also spoken of getting rid of the payroll tax, with the aim of reducing the cost of labour, which would in turn call for changes to the income tax system. There are currently a number of different tax reform bills under consideration in congress, and the government’s final proposal will reportedly take elements from these different pre-existing bills.