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Brazil's Guedes says VAT must not be higher than 20%

BRASILIA, July 22 (Reuters) - Brazil's Economy Minister Paulo Guedes said on Thursday that "under no circumstances" can value-added tax be above 20%, and reiterated the government's desire to set a new tax on dividends at 20%.

Speaking at an event hosted by Brazil's national industry and banking associations, Guedes also said that he expects the Senate to turn its attention away from the inquiry into the government's handling of the COVID-19 crisis towards supporting the government's reform agenda. (Reporting by Jamie McGeever and Isabel Versiani)