Brazil currently taxes international companies, says Economy Minister on Yellen’s proposal
RIO DE JANEIRO, BRAZIL – Brazil currently taxes international companies in some form, said on Tuesday Minister of Economy Paulo Guedes in an online event of Itaú LatAm, when commenting on United States Treasury Secretary Janet Yellen’s proposal to create a global minimum tax for companies.
He explained that Brazil taxes remittances of values abroad. “It is perhaps not the best solution,” he conceded, adding that the collections are made “very begrudgingly.”
This taxation, he commented, may in the future be part of some international agreement on taxation. But this is a topic of much debate, he said. Brazil is involved in debates on the subject with the International Monetary Fund (IMF) and the World Bank. There is controversy about whether the best model would be a global minimum tax or tax-specific countries and services.
However, this discussion will take time. When the government sent its tax reform proposal to Congress, it considered that the time was not right.
At the time, the Chamber of Deputies was chaired by Rodrigo Maia (DEM-RJ), who openly opposed taxing transactions.
Source: Valor
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