By Nelson Belen, Contributing Reporter
RIO DE JANEIRO, BRAZIL - Starting on Tuesday, May 1st, Rio City Hall will begin imposing a one percent tax on the city's most popular ride-hailing applications, such as Uber, 99, and Cabify, for all rides taken through the app.
Rio approved the new measure last week and according to city officials, the charge will generate upwards of R$40 million a year.
City official Fabio Pimental explained to local news outlet Globo that the R$40 million figure "was based on data from the ISS [Tax on Services] that transportation companies pay."
But . . .