IMF-巴西增值税改革：确保收入中性（英）-2025.12.pdfVIP

Brazil’sVATReform:

EnsuringRevenue

Neutrality

AnaCebreiro,GuilhermeDalPizzol,ChristinaKolerus,Pablo

Moreira,andMiguelPecho

WP/25/266

IMFWorkingPapersdescriberesearchin

progressbytheauthorsandarepublishedto

elicitcommentsandtoencouragedebate.

TheviewsexpressedinIMFWorkingPapersare

thoseoftheauthorsanddonotnecessarily

representtheviewsoftheIMF,itsExecutiveBoard,

orIMFmanagement,theBrazilianFederalRevenue

AuthorityortheMinistryofFinanceofBrazil.

2025

DEC

©2025InternationalMonetaryFundWP/25/266

IMFWorkingPaper

WesternHemisphereandFiscalAffairsDepartments

Brazil’sVATReform:EnsuringRevenueNeutrality

PreparedbyAnaCebreiroGomez*,GuilhermeDalPizzol**,ChristinaKolerus*,PabloMoreira**,andMiguel

Pecho*

AuthorizedfordistributionbyDanielLeigh,AlexanderKlemm,andAndreaLemgruber

December2025

IMFWorkingPapersdescriberesearchinprogressbytheauthor(s)andarepublishedtoelicit

commentsandtoencouragedebate.Thefindings,interpretationsandconclusionsexpressedinIMF

WorkingPapersarethoseoftheauthor(s)anddonotnecessarilyrepresenttheviewsoftheIMF,its

ExecutiveBoard,IMFmanagement,theBrazilianFederalRevenueAuthority(RFB),ortheMinistryof

FinanceofBrazil.Alldataworkforthisprojectinvolvingconfidentialtaxpayerinformationwasdoneatthe

RFBfacilities,onRFBcomputers,byRFBtaxauditors,andatnotimewasconfidentialtaxpayerdata

outsideoftheRFBcomputingenvironment.Allresultshavebeenreviewedtoensurethatnoconfidential

informationisdisclo