Brazil raises ISS to 2%
- 31 October 2015 | Richard Asquith
The Brazilian Chamber of Deputies ruled this week that the minimum Imposto sobre Serviços will rise to 2%.
ISS is the service tax levied by municipalities. The rise in the minimum rate is to prevent the increasing race to the bottom on competing cities and regions looking to attract business.
The rise will now need to be approved by the Brazilian Senate.