In brazil an overhaul of consumption taxes passed by Congress in December has been called “historic”, “revolutionary” and a “miracle”.The tax overhaul is the latest and most significant in a series of structural reforms in Brazil. In 2017 labour laws were modernised under Michel Temer, a centre-right president. Under Mr Temer’s right-wing populist successor, Jair Bolsonaro, Congress approved a pension reform that raised the retirement age. For once, the superlatives are not misplaced. More than 30 years in the making, the reform will simplify the world’s most complicated tax system. Will Lula government fix the Brazilian economy ?
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