Brazil seeks to eliminate import taxes on steel and other products

Brazil seeks to eliminate import taxes on steel and other products

The source, who requested anonymity because the measures are still being considered, also mentioned that the government is considering a tax reform that would include a 10% dividend tax and a drop in the corporate tax burden to 30% from 34%. The reform is less comprehensive than one passed by the Lower House last year but not by the Senate. It imposed a 15% tax on currently tax-exempt corporation dividends and lowered the corporate income tax rate to 26%.

According to a source familiar with the situation, Brazil’s government is considering reducing import duties on steel and ten other commodities, including food and construction materials, to assist down consumer prices.

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