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Income tax reform will be voted on Tuesday - Economy

Income tax reform will be voted on Tuesday – Economy

Deputy Celso Sabino (PSDB-PA) together with Economy Minister Paolo Guedes (Photo: Washington Costa – ASCOM/ME)

Even with dissenting statements from business entities, Income Tax Reform Bill Rapporteur Celso Sabino (PSDB-PA), expects the text to be voted on next Tuesday and will receive more than 300 votes in the chamber’s plenary session.

New statements were released after the Chamber approved an urgent request (a kind of “leap” to address the proposal), signed by trade unions, productive sector associations and financial secretaries in the capitals. “We’ll accept it as it is,” Sabino said. “The left will support it too, because they’re on the profit-making agenda, and al-Qaeda leaders will have to turn it in their favour.” condition.

The rapporteur published spreadsheets on his social networks to challenge, by numbers, the position of the entities that indicate that there will be an increase in the tax burden for companies that pay income tax under the supposed profit system.

The rapporteur questions criticism of the data and sees a discrepancy between sectors that say they will increase the tax burden, while states and municipalities say they will lose much of the project’s revenue — and are lobbying to stop it. in Congress. “The truth is that it will reduce the tax to be paid,” the rapporteur said. “That is why countries complain so much.”

Sabino said he saw a lot of misunderstanding in the accounts he was receiving. He said that one of the representatives showed a table considering the entire sales volume, as all the profits that the company will distribute in the form of profits, which is not happening in reality. Under the project, dividends and dividends will be taxed at 20%

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In one of the statements, 52 entities claim that the changes intended by the bill “will lead to a significant recession of the Brazilian economy.” The document also talks about increasing the judiciary. Head of the Center for the Study of Law Firms (Cesa), Gustavo Prigago, detailed the statement. He believes the project will bring a great deal of judicial justice and points out the risks of promoting a rate change based on increased tax collection. The National Committee of Ministers of State for Financial Affairs (Comsefaz) also issued a letter criticizing the text.

Sabino said there is concern about the loss of state and municipal tax revenue, but argues that the issue has already been resolved with recent changes to the project, including the termination of the JCP, not just the ban. on your tax deduction for payment. According to their calculations, the gain from the end of this tool that publicly traded companies use to reward their shareholders will rise to R$20 billion. “The main problem is that the JCP was going to give 14 billion R$ and would give 20 billion R$ by the end of it.”

Information from the newspaper State of Sao Paulo.