Brazil’s New VAT Rate Hits 28.55%, World’s Highest After Reform

Brazil’s recent tax reform, approved by the Senate, has sparked debate among economists and business leaders. The new Value Added Tax (VAT) rate is set to reach 28.55%, surpassing Hungary’s current 27% rate. This change positions Brazil as the country with the highest VAT rate globally. The reform aims to simplify Brazil’s complex tax system. […]