NewsCase StudiesEvents

Tax Reduction for IT Companies Extended

Also in the news...

Hundreds of Scottish businesses set to benefit as UK launches trade deal with Gulf nations

The landmark deal is expected to add at least 270 million a year to the Scottish economy, with food and drink and renewable energy businesses set to benefit.

Multi-year UAE business licenses highly discounted

Running throughout the summer, Charterhouse Lombard is offering cost-effective setup packages with the option of buying a multi-year license at a significant discount. Get in touch with us today to ask about:

Joint Statement on UK-Thailand Joint Economic and Trade Committee

A Joint Statement between the United Kingdom and Thailand concluding the first Joint Economic and Trade Committee

UK-Andean countries trade agreement

Documents containing treaty information and a summary of the UK-Andean countries trade agreement.

UK pledges support to help Ukraine rebuild post conflict

The International Trade Secretary hosts high-level talks on how the international community can help rebuild Ukraine after the conflict.

Tax Reduction for IT Companies Extended

Back to News

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.

Article supplied by Radius

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.