BRAZIL: Government Losses With New Tax Program Might Struck R$ 3 Billion – Meirelles

By | October 6, 2017

The Special Tax Regularization Program (Pert, likewise called new Refis) passed this week by the Brazilian Senate should frustrate the government’s originally expected revenue with the measure at around R$ 3 billion (US$ 960 million) this year and R$ 900 million in 2018, said Financing Minister Henrique Meirelles.

According to him, the procedure approved by the Senate is “a little bit better” than the version that passed in the House of Representatives. It is still “too early” to talk about a possible suggestion of veto to the President Michel Temer, Meirelles stated.

“It’s something we have to look at thoroughly. There are some elements of the measure that have some essential questions to be considered,” he noted.

Concerning pension reform, Meirelles said he does not think that the vote on the tax regularization program could impact the federal government plans for pension reform. He expected that the step should be voted in November, after the congressional evaluation of the brand-new criminal complaint versus Temer.

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