Will a tax reform extinguish the IPI in Brazil in 2023?
Market Rules
One of the challenges for the Lula administration in Brazil is the approval of tax reform. Some of the main points under discussion concern the extinction of some taxes, as is the case of the IPI.
If a tax reform proposed is approved by Brazil's Congress in 2023 and extinguishes IPI (Portuguese acronym for "Manufactured Goods Taxation"), this market will resolve to "Yes".
If the tax reform is rejected by Congress - or in case it is approved but does not include the end of IPI - this market will resolve to "No"