💨 Abstract

Brazil is considering a millionaires tax as part of an income tax reform, with Finance Minister Fernando Haddad stating that multiple scenarios are under evaluation. President Luiz Inacio Lula da Silva has pledged to send the reform to Congress, including a proposal to extend an income tax exemption to those earning up to 5,000 reais per month. The reform must be "neutral," meaning any revenue-increasing measures would compensate for proposed exemptions.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖