Brazilian President Michel Temer reiterated that he would present a proposal to simplify the country’s tax system after Congress passes the pension system reform.
“Business people say that they have to keep 30 employees only to cope with taxes red tape,” said Temer during a speech in the city of Rio de Janeiro.
“Soon after the pension reform, we will proceed with the tax simplification,” and with that, we’ll close the reform cycle, he added.
The pension reform still has to pass a House floor vote scheduled to February before heading to the Brazilian Senate. The legislation faces criticism from labor unions and even from members of the PMDB, Temer’s political party. They view the proposed changes as too harsh to pass only months before a general election in the country.
Temer said that the pension system must be adjusted to avoid radical changes in the future.
“If we do not do it now, there will not be one single candidate for governor or president that can run from the subject,” he said.
The material has been provided by InstaForex Company – www.instaforex.com
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