Brazil’s Economy Minister vows to reduce corporate income tax with increased collection

With respect to Income Tax on Individuals, the Minister said that the proposal is to raise the exemption bracket.

RIO DE JANEIRO, BRAZIL - The Minister says that corporate income tax will drop 5 percentage points, and that Bolsonaro's reelection will increase this reduction.

Economy Minister Paulo Guedes said at a meeting with São Paulo industrialists on Wednesday, June 23, that the increase in tax collection and revenue expected this year will be immediately converted into tax cuts for both individuals and corporations.

Guedes said that the economy has resumed vigorous growth and revenue is expected to increase by 5% to 6%. "If revenue increases, we will immediately reduce taxes," the Minister pledged.

Guedes said that corporate income . . .

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