Also in the news...
UK seeks business views on response to US tariffs
Government begins process seeking business views on response to US tariffs
UK/Viet Nam: Free Trade Agreement
This treaty was presented to Parliament in April 2025.
How AI Is Fueling Creative Innovation for Startups Abroad
When most people think about starting a business overseas, their minds immediately jump to logistics: registering the company, navigating local laws, and finding office space. But one of the most exciting (and often overlooked) aspects of expanding internationally is tapping into the global pool of innovation especially in the realm of artificial intelligence (AI).
Support for UK businesses helping to rebuild Ukraine
Department for Business and Trade (DBT) initiatives to support UK businesses helping to rebuild critical infrastructure in Ukraine.
Now is the time to generate growth together with India
£400m of trade and investment wins from UK-India Economic and Financial Dialogue set to boost the British economy.
Tax Reduction for IT Companies Extended
On August 11, the official gazette confirmed that the 80% reduction in IPI tax currently enjoyed by the IT industry due to expire at the end of this year is to be extended to 2024, after which a 75% reduction will be applied between 2025 and 2026 and a 70% reduction from 2027 until 2029.
IPI tax is a value added tax that is applied to all goods imported or manufactured in Brazil. The rate of IPI applied depends on the product, but averages around 10% of the assessed worth of the product (applied on an ad valorem basis).
The gazette also confirms that IT companies are required to invest at least five percent of their gross sales in research to develop the sector.
Additionally, the gazette confirms that the free trade areas of North Brazil will continue to provide additional tax benefits until the end of 2050, and the Manaus Free Trade Zone will be extended until 2073.