Brazil's government considers taxing big techs if revenue falls short

FILE PHOTO: The Paulista Avenue is seen in Sao Paulo, Brazil April 26, 2024. REUTERS/Amanda Perobelli/File Photo

BRASILIA (Reuters) -Brazil's Finance Ministry will submit proposals to Congress this year to tax big tech companies and implement a global minimum tax of 15% on multinational corporations to secure the 2025 fiscal goal if there is a revenue shortfall.

Speaking at a press conference, the ministry's executive secretary, Dario Durigan, said the plan aligns with discussions on global tax cooperation that Brazil has been addressing as chair of the G20 forum of the world's largest economies.