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Brazil cuts industrial tax by 25% for most products -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Brazil’s Economy minister Paulo Guedes talks to media members at Planalto Palace, Brasilia on Brazil’s January 25, 2022. REUTERS/Adriano Machado

(Reuters) – Brazil’s government has announced a 25% reduction to the industrial tax (IPI), for all products. This was done to reduce inflation and to help recover local industries from a downturn.

The tax cut “is a milestone of the beginning of Brazilian reindustrialization after four decades of de-industrialization,” said the country’s Minister of Economy Paulo Guedes.

Reuters has previously covered the tax cuts.

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