Brazil's Audit Court Suggests 11.3% Tax Rate for New CBS Tax
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Brazil is changing its tax system. A new tax called CBS will start in 2027. CBS will replace two old taxes. The old taxes are called PIS and Cofins.
The TCU is a government office in Brazil. It checks how the government spends money. The TCU gave a new idea. It said the CBS tax rate should be 11.3%.
This rate is called a reference rate. It is a number that helps start the new tax system. The government can still change this number later.
This change is part of a big plan. The plan is called tax reform. It is one of the biggest changes to Brazil's taxes in many years.
Also, a group called Sebrae is helping small businesses. Sebrae is making a tool called a simulator. This tool helps business owners understand the new taxes.
Vocabulary15 words
- CBS
- a new tax in Brazil
- TCU
- a government office that checks money matters
- reference rate
- a number used to start a new system
- tax reform
- a big change to how taxes work
- Sebrae
- a group that helps small businesses
- simulator
- a tool that shows how something will work
- replace
- to put a new thing instead of an old thing
- propose
- to give an idea
- rate
- a number used to measure something, like a tax
- government
- the group of people who run a country
- system
- a way that something works
- business owner
- a person who has their own company
- idea
- a thought or plan
- change
- to make something different
- plan
- a way to do something in the future
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Quiz
Answer key
1. It replaces PIS and Cofins 2. 11.3% 3. A simulator for business owners
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Brazil is changing its tax _____. A new tax called CBS will start in 2027. CBS will _____ two old taxes. The old taxes are called PIS and Cofins.
The TCU is a government _____ in Brazil. It checks how the government spends money. The TCU gave a new _____. It said the CBS tax rate should be 11.3%.
This rate is called a _____ rate. It is a number that helps start the new tax system. The government can still _____ this number later.
This change is part of a big _____. The plan is called tax _____. It is one of the biggest changes to Brazil's taxes in many years.
Also, a group called _____ is helping small businesses. Sebrae is making a tool called a _____. This tool helps business owners understand the new taxes.
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