Brazil's Bolsonaro courts events sector with pledge to restore tax breaks ahead of election

BRASILIA, Oct 20 - Brazil's Senator Flavio Bolsonaro said in a post on X on Tuesday that he would restore Perse, a tax break program for the events sector, if he wins Sunday's presidential election, reviving support originally introduced to help businesses recover from the COVID-19 pandemic.• Bolsonaro finished unexpectedly ahead of President Luiz Inacio Lula da Silva in the first round earlier this month, and recent opinion polls show him maintaining a narrow lead ahead of Sunday's runoff• The senator's campaign has pledged broad-based tax cuts, which sit uneasily alongside his promise of a faster fiscal adjustment, as lower taxes would reduce government revenue• Created in 2021, Perse was designed to support the events, tourism and related industries, which were hit hard by COVID-19 lockdowns• The program was later amended through legislation aimed at narrowing its scope, including changes introduced during the administration of former President Jair Bolsonaro, the senator's father• Perse was phased out in April last year after Congress approved a 15 billion reais ($2.99 billion) cap on its tax expenditures, as part of leftist Lula's efforts to strengthen public finances by curbing tax breaks REUTERS