The Labor, Administration and Public Service Commission of the House of Representatives approved Bill 115/19, which creates the Tax Transparency Law. The idea is that the total collection and donations received will be released monthly, also through the internet.
The text was approved in the form of a substitute presented by the rapporteur, congressman André Figueiredo (PDT-CE), to the main text by congresswoman Renata Abreu (Pode-SP), and two members who dealt with related issues.
The substitute, like the original, is also concerned with restricting access to information today under fiscal secrecy. The disclosure should be accompanied by a comparative analysis, considering past data and future perspectives.
The proposal is being finalized and will still be reviewed by the Finance and Taxation; Constitution and Justice and Citizenship committees.
According to Bruno Zaroni, founding partner of Zaroni Advogados, “the draft law under consideration by the Chamber of Deputies is aimed primarily at attracting greater attention from foreign investors to the country, by increasing the degree of detail in tax collection data and social and economic contributions, not only from the Union, but also from the states, the Federal District and the Municipalities. And so, identify, for example, the basis of calculation of each revenue and the economic activity that generated the amount collected. This degree of transparency favors the collection and ensures greater security for investors and taxpayers”, he says.