Reported 4 months ago
Brazil's lower house of Congress has advanced a bill that would impose a new 20% import tax on international online purchases under $50, a reduction from the initially proposed 60% tax rate. The bill still needs to be voted on by the Senate. This decision comes after negotiations between lawmakers and President Lula's administration, which had opposed the higher tax rate. The move aims to balance public spending with increased tax revenue, but President Lula has hinted at potentially vetoing the new tax. If vetoed, lawmakers could overturn it with a simple majority vote. Last year, a similar tax proposal faced backlash from online shoppers and was abandoned by the government.
Source: YAHOO