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Brazil's Senate on Tuesday approved a bill maintaining tax incentives for the meetings and conferences sector until the end of 2026, which now needs President Luiz Inacio Lula da Silva's approval to become law. The bill, which had already been approved by the Lower House, sets a total cap of 15 billion reais ($2.89 billion) for post-pandemic tax benefits granted to the event industry through the so-called PERSE program, valid until the end of December, 2026. In December, Lula's administration introduced an executive order aimed at limiting benefits across various sectors and ensuring fiscal compensation, including a significant downsizing of the PERSE program, targeting its elimination by 2025.

Rio de janeiroEstado do rioDistrito federalMarcela ayresPedro fonsecaAndre romaniMatthew lewisLuiz inacio lulaSteven grattanBrazil senate onPresident luiz inacio lulaLower houseLuiz inacio lula da silvaTax incentives