The US Treasury Secretary Calls Brazil’s Tax Reform ‘historic’
On Tuesday, February 27, US Treasury Secretary Janet Yellen called the Brazilian tax reform approved by the National Congress last year “truly historic”. According to her, the measure may attract foreign investments to the country.
“I congratulate Minister [of the Economy, Fernando] Haddad for proposing truly historic tax reform. This will make business easier, including for US companies to invest in Brazil.”
The reform is one of the main measures the Lula government and minister of economy Fernando Haddad have been advocating for, which promises to modernize Brazil’s tax system by implementing a taxation model currently used in many developed countries. The government expects to send the bill to the National Congress in March.