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Brazil government considers lowering taxes to boost industry – Economy Minister

RIO DE JANEIRO, BRAZIL - The federal government is considering a 25% cut in the Tax on Industrialized Products (IPI), a federal duty levied on industrialized goods, whether domestic or imported, for sale in the country.

According to Minister of Economy Paulo Guedes, the goal is to boost economic activity, by lowering costs that the productive sector eventually passes on to the end consumer.

"We will reindustrialize the country," Guedes said yesterday February 22, when taking part in an event sponsored by BTG Pactual bank in São Paulo. "We are preparing a measure with the support of Chamber president Arthur . . .

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