Incentive to the exportation of manufactured goods to come out in March
DCI - 02/27/2008
The Federal Government's incentives to the exportation of the industrialized products, which foresee the reduction and/or exemption of taxes as a measure to compensate the increase in value of the Real in relation to the Dollar, will be announced in middle March as part of the new Brazilian Industrial Policy. The information, given this week, is from the minister of the Development, Industry and Foreign Trade Miguel Jorge. According to the minister, "the measures of incentive to the exportation of manufactured products will be included in the new Industrial Policy the government intends to release in middle March. They have already been approved by president Luiz Inácio Lula da Silva and may soon be referred to the National Congress after the voting of the federal budget", he said, adding that it was not possible to present them in the end of last year (2007), as it had been widely noticed, because of the political debate between the Legislative and Executive branches, related to the extension of the Provisional Contribution on Financial Transfers (CPMF). When questioned about what would be the content of the measures, Miguel Jorge said he could not tell it in advance because "they are coordinating actions that will lead to tax changes, influencing twenty-four different productive chains". The minister also recalled that these measures of incentive to the exportations of industrialized products are important because they will help Brazil to keep the diversification of the guidelines of foreign sales and, mainly, they will help increase the volume of the exported products.