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Brazil has the Opportunity to Implement a Simple Consumption Tax and Foster Tax Progressivity at the Same Time

On July 21 the Brazilian government sent to its Congress the first stage of its proposed tax reform. The proposal includes unifying two levies on consumption, the so-called PIS and COFIN taxes, into a 12% value-added tax (VAT). Brazil has one of the world’s most complex tax systems. According to the World Bank while a […]

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Peruvian “Solidarity Tax” Unlikely to Offset Deficit Spending

Due to the COVID-19 crisis, Peru has found itself with high levels of government spending that has resulted in a significant deficit. In order to offset costs, the government is considering a temporary wealth tax that has been termed the “Solidarity Tax.” However, while it is important that Peru find ways to offset its deficit […]