Tebet says tax reform comes out this year and is “economic vaccine”

The Minister of Planning, Simone Tebet, said this Monday (13) that the tax reform is the “only silver bullet” to “make Brazil reduce the cost of its production”. Tebet said that the reform should come out by the end of the year and will be an “economic vaccine”. The statement was made during the minister’s participation in the event “Plano de Voo Amcham 2023” promoted by the American Chamber of Commerce for Brazil, reported Valor Econômico.

“Will it be easy? No. Is it difficult? It is difficult. But maybe because Brazil reached the first time in consensus, almost practically, of the unanimity of its importance as the only silver bullet that we have to make Brazil lower the cost of your production, do away with bureaucracy, make the productive sector more competitive and, with that, have greater productivity and improve the economy, generating jobs, income, income distribution… I would say that tax reform is our vaccine economically,” he said.

For the minister, the impact of advancing the tax reform process will be a drop in interest rates. “We want to enable [a reforma tributária] until the end of the year. It won’t be in four or five months. But each advance will bring positive signals to the market. And we may see interest rates falling with future prospects for stability,” said Tebet.