Brazil CNI proposes cutting CBS rate to 10.8%, using 2023-25 base

Brazil's National Confederation of Industry (CNI) proposes reducing the CBS rate from 11.3% to 10.8%, citing a lower PIS/Cofins burden of 4.6% during 2023-2025 versus 5.0% in 2012-2021. The proposal is part of ongoing tax reform implementation debates; its adoption would lower the tax burden on industry, but the government's response is uncertain.

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