Brazil Enacts Tax Measures Under New Industrial Policy


Brazil Enacts Tax Measures Under New Industrial Policy


Originally published in the May 15 edition of World Tax Daily (Copyrights Tax Analysts – www.taxanalysts.com)

Brazil on May 13 published in its official
gazette a series of acts implementing some of the measures announced on May 12 under the new Productive Development Policy (Política de Desenvolvimento Produtivo, or PDP)

Among the most important measures are:

  • Provisional Measure 428/2008, which introduces changes to tax and customs legislation under the PDP;
  • Decree 6,542/2008, which regulates insurance for export credits (it aims to protect export credit transactions from commercial,
  • political, and extraordinary risks that may affect the production of goods and services destined for exportation);
  • Decree 6,453/2008, which changes some regulations applicable to the financial transactions tax;
  • Decree 6,454/2008, which deals with the taxation of foreign trade; and
  • Decree 6,455/2008, which adapts the federal excise tax table to the new PDP rules.

Because of the number and complexity of the new rules, time is still needed for a deeper review of the new measures.

David Roberto R. Soares da Silva