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Brazil Tackles Nightmarish Tax System to Boost Businesses

Brazil’s byzantine tax system is in for an overhaul, as Congress begins debating a bill to tackle what many investors consider one of the biggest obstacles to doing business in Latin America’s largest nation.

On Tuesday a congressional committee began analyzing a constitutional amendment that aims to simplify how people and companies pay taxes, consolidating the country’s dizzying number of levies. While the proposal would not reduce Brazil’s overall tax burden, it could do so on specific goods and services, including food, medicine, and machinery.

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