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This paper uses a dynamic computable general equilibrium model (CGE) to analyze the macroeconomic and redistributive effects of replacing turnover and financial transaction taxes in Brazil by a consumption tax. In order to approximate Brazil's compliance with its fiscal adjustment targets, the proposed reform is subject to a non increasing path for the level of public debt. Despite an increase in the average consumption tax rate in the first years after the reform, a majority of individuals experienced an increase in their lifetime welfare. This result rejects the hypothesis that the on-going fiscal adjustment effort carried on by the Brazilian government was an obstacle to the implementation of a more efficient tax system.

Electronic books. -- local. --- Fiscal policy -- Brazil -- Econometric models. --- Taxation -- Brazil -- Econometric models. --- Macroeconomics --- Public Finance --- Taxation --- Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General --- Taxation, Subsidies, and Revenue: General --- Intergovernmental Relations --- Federalism --- Secession --- Fiscal Policy --- Business Taxes and Subsidies --- Debt --- Debt Management --- Sovereign Debt --- Macroeconomics: Consumption --- Saving --- Wealth --- Public finance & taxation --- Fiscal consolidation --- Revenue administration --- Consumption taxes --- Public debt --- Consumption --- Fiscal policy --- Taxes --- National accounts --- Revenue --- Spendings tax --- Debts, Public --- Economics --- Brazil --- Econometric models.