Brazilian government extends reduction of taxes on industrial products from 25% to 35%

RIO DE JANEIRO, BRAZIL – The Ministry of Economy will hold a meeting with journalists this Friday (29) about the extension of the reduction of IPI (tax on industrial products) from 25% to 35%.

The Special Secretary for Productivity and Competitiveness (Sepec), Daniella Marques, and the head of the Center for Tax and Customs Studies of the Federal Treasury, Claudemir Malaquias, will participate in the conversation.

President Jair Bolsonaro (PL) signed the decree with the amendment on Thursday.

Starting Sunday (May 1), the lower rate will apply to cars, appliances of the so-called “white line”, such as refrigerators, freezers, washers and dryers, and other industrial products.

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