Brazil to Cut Electric Sector Companies Tax Benefits: Rapporteur

July 13, 2021, 6:39 PM

Companies that generate thermoelectric energy will lose tax exemptions for coal acquisition, the rapporteur of Brazil’s tax reform bill Celso Sabino told reporters after a meeting with parties leaders.

  • Sabino argued that the sector was benefited with Eletrobras capitalization
  • Report estimates a 30b reais in tax burden reduction, he said
  • Changes in Brazil’s income tax rules will reduce govt revenue by 115b reais, but will be compensated by 85b reais in exemption and public spending cuts
  • Govt will cut spending with a bill that limits higher wages for public servants
    • Report suggests taxation of housing and transport assistance for categories ...

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