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Brazilian government grants incentive to exporters

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Staff writer ▼ | September 30, 2014
Brazil
Good news   A bit better life for exporters

Brazilian federal government is granting a 3% credit to manufactured good exporting companies beginning next October.

The benefit will be part of the Reintegra tax refund program for exporting companies. The credits will be based on export value and should have a fiscal impact of R$ 6 billion ($2.4 billion) over a 12-month period.

The initial plan was a 0.3% credit, but according to Mantega, the government increased the rate to 3% because the manufacturing industry was badly hit by the 2008 crisis.

The government has also announced tax breaks on input imports for the manufacturing of export products. R$ 200 million ($81.3 million) have been added to the budget of the Proex export financing program.

According to information from the Ministry of Finance, the government has also committed to implementing measures to streamline export and import costs and deadlines.


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