Clipping of news on Brazilian Culture, Law and Citizenship
04/03/2013
This article was translated by an automatic translation system, and was therefore not reviewed by people.
BRASILIA, Apr 1 (Reuters) - The government is considering keeping the rate of the Tax on Industrialized Products (IPI) reduced throughout this year for white goods and for the furniture sector, told Reuters news agency a source close economic team the subject.
The measure would end in June and the goal is to prevent the consumption of households is affected with the increase of the tax at a time when the government wants to keep the signs of recovery in economic activity.
The IPI reduction for white line was implemented in December 2011 and has since been extended. At the end of last year, however, the finance minister, Guido Mantega, stipulated the gradual rise of the tribute. This would cause the benefit ended in June, bringing tax rates to their normal levels.
The tax rate levied on stoves, for example, was cleared by January 31 this year. From there, it was increased to 2% and should remain at that level until December 31, not returning to the original 4%, according to a source.
Refrigerators and freezers should continue with the tax of 7.5% throughout the year, and not return for 15%. According to the proposal from the technical area of government, washing machine IPI has remained at 10%.
Already the furniture sector, which had a slight increase in tax in February, will also be benefited. Furniture should have kept the IPI rate by 2.5%, while 7.5% fixtures and wall paper by 10%.
If the proposal is chancelada technical area by the Minister of Finance, the tax breaks would be around £ 1.2 billion throughout the year, the source said.
Mantega announced on Saturday to extend the IPI low for cars and trucks by December this year, the benefit would end on Monday. In a press release, the Ministry of Finance was informed that the goal of extending the IPI for cars and trucks was continuing the policy stimulus to the domestic market.
The measure represents additional tax breaks of $ 2.2 billion April-December 2013 compared to what was already programmed.
After Brazil's economy has grown only 0.9% in 2012, the government believes the activity will accelerate this year. In the accounts of the Ministry of Finance, the expansion will be between 3% and 4%.
Source: Uol - News
Our news are removed entirely from the sites of our partners. For this reason, we can not change their content even in cases of typos.
This article was translated by an automatic translation system, and was therefore not reviewed by people.