Source: Agência Estado, 24/07/2007

The President of the Gerdau Group, Jorge Gerdau, today defended the inclusion of a ceiling on the country's tax burden in the tax reform proposal. With this limit, the government would have to accelerate tax exemptions to prevent the increase in the tax burden.

"We understand that the tax reform must include this forecast of not increasing the burden," said the businessman, who has been participating in the business movement in defense of tax reform for years. According to him, fixing the ceiling would be reflected in the government's need to cut spending.

Gerdau, who is in the steel industry, arrived at the Ministry of Finance for a meeting with Minister Guido Mantega and a group of businessmen. The meeting was organized by the National Confederation of Industry (CNI). Upon arrival, he expressed confidence in the possibility of a successful tax reform proposal that the federal government will send to the National Congress.

"The proposal prepared by the Ministry of Finance, with the federal and state Value Added Tax (VAT), has chances of having a good opportunity", evaluated the businessman.