Brazil announces tax breaks


Rio de Janeiro, Mar 13 (IANS): Brazil has announced 20 to 80 percent tax cuts for television, broadband and mobile internet businesses as an incentive to expand the country's communications network.

In return for the tax breaks, the companies are required to purchase local materials and invest in less developed regions of Brazil, reported Xinhua.

The tax cuts are expected to bring in some 18 billion reals ($9.15 billion) in new investment by communication companies over the next few years for network expansion.

The move came less than a week after Brazil cut federal taxes last Friday for several staple foods and cleaning products, which will lower their prices by about 10 percent.

In 2012, Brazil's growth rate registered a lower-than-expected 0.9 percent, while unemployment fell to a record-low 4.6 percent.

  

Top Stories


Leave a Comment

Title: Brazil announces tax breaks



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.