Wednesday, October 21, 2009

Tax Update

The PT takeover of the Chamber of Deputies wound down around midnight last night, and the economic package hammered out the day before was passed very early this morning. There were 415 votes in favor, 15 votes against, and 10 abstentions. Some members of the Senate objected to the hike from 15 to 16 percent in the border VAT, and promised to make adjustments to what they deemed the mistaken provisions of the budget bill.

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