Senate creates joint committee for tax reform

Senate President Davi Alcolumbre (Democrats, DEM, of Amapá) created Wednesday a joint committee of the Chamber of Deputies and Senate to devise a consensus proposal for tax reform. Rival bills are making their way in both houses of Congress, generating friction, and Mr. Alcolumbre had promised since last year to establish the joint committee. The goal is to accelerate the process with an eye on getting the bill voted and approved still in the first half. Deputy Aguinaldo Ribeiro (Progressive Party, PP, of Paraíba) was appointed rapporteur. In addition to trying to combine both bills, the committee will try to add suggestions from the executive branch. The committee chairman, Senator Roberto Rocha (Brazilian Social Democracy Party, PSDB, of Maranhão), said lawmakers already agree on a couple of points, including system simplification, using technology to cut red tape and reduce taxes on exports. Reviving the reviled Provisional Contribution over Financial Transactions (CPMF) is ruled out, he said.

Source: Valor Econômico
http://www.valor.com.br/international