Clipping of news on Brazilian Culture, Law and Citizenship
05/22/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
SAO PAULO - The Finance Minister Guido Mantega announced on Monday new incentives to sell vehicles in the country. Among the changes will be made to reduce the IPI (Tax on Industrialized Products) from 7% to 0% for vehicles up to 1000 cc.
Vehicles from 1000 to 2000 cc, alcohol and Flex have IPI reduction of 11% to 6.5%, while those powered by gasoline will decrease from 13% to 6.5%. For the utilities will be reduced by 4% to 1%. These rates apply to vehicles that are part of the automotive regime.
As for the cars that are out of the system (vehicles imported from outside Mercosur and Mexico and national who have not at least 65% regional content), the IPI follows the table: engine displacements of up to 1000 (from 37 % to 30%). 1,000 to 2,000 cc, alcohol and Flex (41% to 35.5%). The gasoline-powered engine will have this same reduction of 43% to 36.5%. For the utilities will be reduced by 34% to 31%.
In addition, the Government announced the reduction of IOF (Tax on Financial Operations) in the financing of vehicles from 2.5% to 1.5%.
The banking sector also pledged to increase the volume of credit, increase the number of plots and reduce the entry for the purchase of the vehicle and reduce the loan interest.
Automotive Private
Also according to the Minister of Finance, the private companies in the automotive sector will give discounts of 2.5% on the tables in place of cars up to 1000 cc. For the 1000-2000 cc the discount will be 1.5% for utilities and the discount will be 1%.
"The automotive sector is very important in the economy basileira represents over 20% of GDP (Gross Domestic Product) industry," said Mantega. "Brazil has become last year's third-largest auto market in the world and we want the country remains one of the largest players in the world," continued the minister to justify the measures.
Source: InfoMoney
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This article was translated by an automatic translation system, and was therefore not reviewed by people.