Brazil Tax Authority Sends CBS Calculation Model to TCU Without Rate Estimate

Brazil's Receita Federal has forwarded its CBS (Contribuição sobre Bens e Serviços) calculation model to the TCU for technical validation, without specifying the tax rate. The TCU will review and send conclusions to the Senate, marking a procedural step in Brazil's tax reform implementation. The lack of a rate estimate adds uncertainty to the fiscal impact and market expectations.