Brazil, June 27 -- The Inter-American Development Bank (IDB) approved a conditional credit line of $2 billion to support the third phase of the Fiscal Management Modernization Program in Brazil, known as PROFISCO III. This initiative seeks to facilitate and strengthen tax compliance and enhance fiscal sustainability of states and the business environment.The program financed by the IDB supports the Federal Government, states, and municipalities to modernize their tax management processes and systems, focusing on the implementation of the new value-added tax (VAT), which was approved in the recent tax reform. Additionally, PROFISCO III will promote measures to improve public spending management, including the incorporation of environmental a...