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Bolsonaro: Economic Team Studies Reducing Taxes On Companies

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The economic team headed by Economy Minister Paulo Guedes is considering reducing corporate taxes, President Jair Bolsonaro said on Tuesday during a visit to Israel and said that after US President Donald Trump, take similar measure the economy of that country gained great momentum.

Bolsonaro told reporters accompanying his official visit that one of the goals of his administration is to bureaucratize the life of companies in order to make Brazil rise in the ranking of better countries to do business.

Over the weekend, the president had already raised the idea of reducing corporate taxes in a publication on Twitter.

Also, last week, Guedes said the government is studying taxing profits and dividends as a way to offset corporate tax cuts.

“It’s under study by the economic team, just like what Trump did in the United States that, by reducing taxes, it catapulted the economy,” said Jair Bolsonaro.