UPDATE 1-Brazil's govt says private sector consulted in consumption tax reform regulation [Yahoo! Finance]
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Source: Yahoo! Finance
BRASILIA, April 25 (Reuters) - Brazil's tax reform secretary said on Thursday that the private sector was consulted in developing the government's proposal to regulate the consumption tax reform, which also received direct collaboration from states and municipalities. Speaking at a press conference, Bernard Appy defended the text, saying that it gathered consensus on more than 90% of the issues addressed. However, he emphasized that "it is obvious that there will be political decisions based on this foundation." The government of leftist President Luiz Inacio Lula da Silva approved a historic constitutional amendment last year to reform consumption taxes, seen as pivotal to boosting the country's productivity by changing a burdensome system for businesses. However, its effective implementation depends on complementary bills, whose content has been drafted behind closed doors by the Finance Ministry, raising criticism for the low stakeholder involvement in the process. The ref
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