Brazil's lower house of Congress postpones tax reform bill

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BRASILIA, Aug. 17 - The Lower House of Congress of Brazil postponed the vote on a tax reform bill that would introduce taxation of company dividends because it faced defeat due to a lack of consensus.

The bill would slap a 20% tax on dividends and cut corporate income tax rate. Business lobbies oppose the proposal saying it would increase an already heavy tax burden on companies in Brazil.