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Brazil looking to reduce fuel taxes before wider tax reform approval -Guedes

· 02/05/2021 09:21
Brazil looking to reduce fuel taxes before wider tax reform approval -Guedes

- Brazil is looking into reducing taxes on fuel and the electricity sector, Economy Minister Paulo Guedes said on Friday, adding that he would like fuel taxes to be cut before congress approves a wider tax reform bill.

Speaking in a press conference alongside President Jair Bolsonaro, Guedes said tax reform could take six months, and Brazil cannot wait that long before reducing levies on fuel. He also repeated his view that taxes will not go up, especially with the economy trying to mount a sustainable recovery.


(Reporting by Isabel Versiani and Lisandra Paraguassu, writing by Jamie McGeever; Editing by Chizu Nomiyama)

((jamie.mcgeever@thomsonreuters.com; +55 (0)11 97189 3169; Reuters Messaging: jamie.mcgeever.reuters.com@reuters.net))