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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (15339)	5/17/1999 4:09:00 PM
From: wl9839	Read Replies (1) \| Respond to of 22640

DJ Brazil Malan/Reforms -2: Cites Tax Regime Bureaucracy Dow Jones Newswires RIO DE JANEIRO -- Brazilian Finance Minister Pedro Malan said Monday that quick congressional approval of fiscal and tax reforms is crucial for the country. "It's key that Congress pass the fiscal responsibility law and tax reform legislation," Malan said, speaking at a forum sponsored by the National Development Bank, or BNDES. He cited Brazil's bureaucratic tax regime and high levels of evasion. The fiscal responsibility law would place tighter budgetary controls on all levels of government. Government officials and analysts say the measure is critical to ensure that fiscal stability is maintained in the long term. Tax reform, for its part, is currently in the committee stage in Brazil's lower House. Last week, President Fernando Henrique Cardoso said he expects the Congress will approve the tax reform bill "before 2000." -