Vice President Geraldo Alckmin said that the tax reform will do “justice” to Brazilian industry. The Minister of Development, Industry, Commerce and Services (Mdic) participated in the opening ceremony of the National Industry Meeting this Wednesday (27).
“Tax reform is historic. Waited forty years. Brazilian industry is overtaxed. The tax reform will do justice to the industry, stimulating value addition, higher-value jobs”, said Alckmin.
The regulation of the tax reform is being processed in the National Congress, the basic text of which has already been approved in 2023. Industry should be one of the sectors most benefiting from the reform.
At the end of October, the Chamber of Deputies concluded voting on the second tax reform project, which establishes rules for the Goods and Services Tax (IBS) management committee. The project went to the Senate for analysis.
The first text regulating tax reform was approved in July in the Chamber of Deputies. The project defined tax-free food, what cashback will be like for needy families and rules for charging IBS, CBS and Selective Tax.
Observatory
A survey carried out by the Brazil Cost Observatory indicates that six key areas, such as infrastructure, energy, gas, technology and taxes, have the potential to reduce up to R$530 billion from the public sector by 2035, if the associated policies and projects are fully implemented.
According to the research, between 2021 and 2023, it was already possible to reduce R$86.71 billion.
The unprecedented estimates were compiled by the platform developed by Movimento Brasil Competitivo (MBC), in partnership with the Ministry of Development, Industry, Commerce and Services (Mdic) and with technical support from Fundação Getúlio Vargas (FGV), which will be launched this Wednesday (27), in Brasília, and will now be available to the public.
According to the survey, the initiatives include:
- 1. Expansion and diversification of the logistics matrix: Potential reduction of R$ 224.76 billion, with a focus on improving rail and cabotage transport, reducing dependence on road transport.
- Access to business credit: Potential reduction of R$63.46 billion.
- Broadband expansion: Potential reduction of R$69.26 billion.
- Tax simplification: Potential reduction of R$30.9 billion.
- Opening of the natural gas market: Potential reduction of R$21 billion.
- Access to competitive electricity: Potential reduction of R$121.3 billion.
