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IT

Brazil grants tax break for ICT goods produced in Manaus Free Trade Zone

Monday 19 October 2020 | 14:56 CET | News
Brazilian President Jair Bolsonaro has signed a decree to grant tax benefits to companies producing goods and services in the ICT sector in the Manaus Free Trade Zone, reports Valor Economico. The presidential decree determines that industrial IT goods will be exempt from the Tax on Industrialised Products (IPI) and reduced Import Tax. The decree requires beneficiaries to invest at least 5 percent of their gross revenues annually in research, development and innovation activities to be carried out in the western Amazon or the state of Amapa.

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Categories: General / IT
Countries: Brazil
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