August 15, 2019 / 5:14 PM / 2 days ago

Brazil's Guedes would like to see tax burden fall to 20% of GDP over time

SAO PAULO, Aug 15 (Reuters) - Brazil must simplify its tax system, including income tax, Economy Minister Paulo Guedes said on Thursday, adding that he would like to see the country’s tax burden fall to 20% of gross domestic product in 15 years’ time from around 33% currently.

Speaking in Sao Paulo, Guedes also said that President Jair Bolsonaro’s support for privatizating state assets is growing, and that pension reform will generate savings for the government of 3 trillion reais ($750 billion) over the next two decades.

$1 = 4.01 reais Reporting by Stefani Inouye in Sao Paulo Writing by Jamie McGeever in Brasilia

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