June 30, 2020 / 4:40 PM / 12 days ago

Brazil's Guedes says he likes idea of a transactions tax

BRASILIA (Reuters) - Brazil’s Economy Minister Paulo Guedes said on Tuesday he is sympathetic to implementing a transactions tax as it is simple and can help keep value-added tax, or VAT, low.

Addressing a public congressional hearing via videoconference, Guedes said that tax and administrative reform proposals are ready and can be submitted to Congress as soon as lawmakers give the green light.

Reporting by Marcela Ayres and Jamie McGeever

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