Bernard Appy: Impacts of Tax Reform 2024 | GRI Club | 21 October 2024 | TBA, Sao Paulo Brazil

Agribusiness has been a relevant voice in the face of the changes proposed by the Tax Reform, assuming an imperative role to discuss and understand the impacts, in addition to proposing necessary adjustments to maintain the vitality of this strategic sector.

Among the highlights is the tax exemption for basic food products, providing a direct benefit to rural producers. In addition, a significant reduction of 60% in the rate will be applied to a wide range of agribusiness products, including agricultural, fishing, forestry, plant extractives and inputs.

Export taxation, a vital element for Brazilian agribusiness, remains outside the proposed changes, preserving the sector's international competitiveness. However, attention has arisen for the new Selective Tax, still subject to definitions in infra-constitutional legislation. Its scope, aimed at products harmful to health and the environment, raises concerns about its potential impact on the agribusiness, depending on the definitions of the products included.

Another critical point is the Death and Donation Transmission Tax (ITCMD), which could represent an increase in the tax burden on family succession, presenting an additional challenge for producers. Don't miss the opportunity to participate in this crucial debate about the future of agribusiness in the face of tax changes.

2024 Speaker

Bernard Appy
Secretary, Ministry of Finance