BRASILIA (Reuters) – The Brazilian senator overseeing a bill regulating payroll tax waivers withdrew from the text a proposal to hike taxes on the so-called “interest on equity” (known locally as JCP) payments, the latest version of the bill showed on Tuesday.
Senator Jaques Wagner had included last week a proposal to raise the income tax on the JCP, a form of remuneration to shareholders, to 20% from 15%, which has drawn opposition from lawmakers. The bill is expected to be voted by senators later on Tuesday.
(Reporting by Maria Carolina Marcello in Brasilia; Writing by Andre Romani; Editing by Sarah Morland)
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