Taxes in Brazil

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Residency An individual is considered a resident of Brazil when he or she is holding a permanent visa, or a temporary visa with an employment agreement. An individual is a resident without an employment agreement when staying in Brazil for more than 183 days within 12 months. A foreign company is a resident if it…

São Paulo offers tax breaks to boost auto manufacturing

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São Paulo state government in Brazil has kicked off IncentivAuto, an incentive program promising to reduce the state VAT (ICMS) tax rate by up to 25% for vehicle manufactures investing at least 1bn reais (US$262mn) and generating at least 400 jobs in the state. The discount will be proportional to the investment volume, with a…

Brazil auto production up 29.9% in February

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Automobile production in Brazil rose 29.9% in February from January, while sales slipped 0.6%, the national automakers’ association said on Monday. Automakers in Brazil produced around 257,200 new cars and trucks last month, while sales totaled about 198,600 vehicles, according to industry group Anfavea. Compared with a year ago, auto output rose 20.5% and sales…

Brazil cane industry group wants tariff-free access to U.S. sugar market

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Brazil should seek a tariff-free sugar quota agreement with the United States similar to the tariff-free ethanol quota it offers to U.S. exporters of the biofuel, the new head of Brazil`s powerful cane industry group Unica told Reuters. Evandro Gussi, who took over last month as the head of Brazil`s main sugar and ethanol lobby,…