Brazil government sends CBS rate proposal to TCU; Senate to set 2027 rate by Dec 15

The Brazilian government has submitted its proposed CBS consumption tax rate to the TCU, which will forward a recommendation to the Senate by October 30. The final 2027 rate, expected between 8.8% and 9.3%, will be set by December 15, providing clarity for corporate planning. This is a procedural step in Brazil's tax reform, with the rate's magnitude affecting business costs and inflation.