Today’s blog is a guest post from my colleague Karen Heck, a fellow Legal Analyst specializing in Brazil and Latin America for Thomson Reuters Indirect Tax Research.
In the same day Congress approved alterations to the 2016 Fiscal Budget, the lower house’s speaker Eduardo Cunha accepted a motion to open impeachment proceedings against President Dilma Rousseff.
The motion alleges that President Rousseff violated fiscal laws and manipulated government financial reports to benefit her reelection in 2014. Regardless of the outcome of the proceedings, specialists are expecting great impact in all aspects of Brazil’s politics and economy, including the fiscal budget itself.
Watch this blog space for future developments of the impeachment proceedings, and potential impacts on Brazil indirect taxes.