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Brazil slashes industrial tax by 25% for most products

RIO DE JANEIRO, BRAZIL - Brazil's government cut the industrial tax (IPI) by 25% to fight inflation and help industry rebound from the pandemic.

Published in the Federal Gazette on Friday, the tax cut has immediate effect and "is a milestone of the beginning of Brazilian reindustrialization after four decades of de-industrialization," said Minister of Economy Paulo Guedes.

The 25% cut in the IPI tax is applicable to all products - including beverages and weapons . . .

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