Brazil's Lower House Approves Major Tax Reform Bill

Brazil's lower house of Congress approved the main text of a significant consumption tax reform bill. Amendments to the bill will be voted on Wednesday. This bill is part of a broader constitutional tax reform, with a related bill already under Senate review.

Brazil's lower house of Congress moved closer to a major overhaul of the nation's tax system by approving the main text of a consumption tax reform bill. Lawmakers are set to vote on amendments to the proposal on Wednesday.

This legislative effort represents the second major bill the government has submitted to implement a comprehensive constitutional tax reform approved by Congress last year. The first bill has already been sent to the Senate, which will also receive the bill approved on Tuesday.