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Brazil's Guedes would like to see tax burden fall to 20% of GDP over time

Credit: REUTERS/Amanda Perobelli

Brazil must simplify its tax system, including income tax, Economy Minister Paulo Guedes said on Thursday, adding that he would like to see the country's tax burden fall to 20% of gross domestic product in 15 years' time from around 33% currently.

SAO PAULO, Aug 15 (Reuters) - Brazil must simplify its tax system, including income tax, Economy Minister Paulo Guedes said on Thursday, adding that he would like to see the country's tax burden fall to 20% of gross domestic product in 15 years' time from around 33% currently.

Speaking in Sao Paulo, Guedes also said that President Jair Bolsonaro's support for privatizating state assets is growing, and that pension reform will generate savings for the government of 3 trillion reais ($750 billion) over the next two decades.

($1 = 4.01 reais)

(Reporting by Stefani Inouye in Sao Paulo Writing by Jamie McGeever in Brasilia)

((jamie.mcgeever@thomsonreuters.com; +55 (0)61 3426 7015; Reuters Messaging: jamie.mcgeever.reuters.com@reuters.net))

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