Reuters logo
Brazil's Temer signs tax renegotiation program into law
October 24, 2017 / 8:25 PM / 2 months ago

Brazil's Temer signs tax renegotiation program into law

BRASILIA (Reuters) - Brazilian President Michel Temer on Tuesday signed into law a new program for companies to renegotiate their overdue tax bills, providing extra revenue to cover a gaping budget deficit.

Brazil's President Michel Temer attends a ceremony to deliver the Order of Aeronautical Merit medals, in Brasilia, Brazil, October 23, 2017. REUTERS/Ueslei Marcelino

The program, known as Refis, has collected 10.9 billion reais ($3.4 billion) in back taxes this year for the Treasury. Earlier this month, the Senate approved greater discounts to taxpayers in the program, depriving the cash-strapped government of about 3 billion reais.

Reporting by Lisandra Paraguassú; Editing by Cynthia Osterman

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below