Reporter criticizes the 11.3% rate for CBS and says the number is not in official studies
Eduardo Braga (MDB-AM), rapporteur of the project that will set the CBS reference rate, claims to disagree with the level and says that the concern comes from the approval of the tax reform.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM ESTADÃO · 2 MIN
The rapporteur of the project that will set the CBS reference rate, Eduardo Braga (MDB-AM), criticized the 11.3% level for the tax, according to Estadão.
Braga stated, in a Senate committee session, that the percentage of 11.3% is not included in studies by the Federal Revenue Service or the Federal Court of Auditors. He said he disagrees with the rate, and the concern, according to the report, has existed since the approval of the tax reform.
According to Braga, it was Renan Calheiros who appointed him as rapporteur for the text. The project he reports on is a draft resolution, an instrument that will define the CBS reference rate, one of the taxes created by the reform. Therefore, the number gains weight in the debate about how much the new consumption taxation system tends to weigh on companies and consumers.
The point that draws attention is the origin of the number. If the level does not appear in the official studies cited by Braga, the discussion stops being just about the rate and starts involving the technical basis of the proposal.
What changes for the investor
For those who invest in the stock market, interest and the dollar, the most direct effect is the uncertainty about the final CBS rate, which continues to depend on the project's progress in Congress. Markets tend to need clear rules to evaluate sectors exposed to consumption taxes, and public disagreements between the rapporteur and technical bodies can prolong this lack of definition. This reading is a scenario and does not indicate price movement.
Automatically translated from Portuguese.
