BRAZIL: CHAMBER OF DEPUTIES SUSPEND TAX ON ORANGE JUICE EXPORTS

The Brazilian Chamber of Deputies approved on Wednesday (20) the Decree 355/2020 to suspend the internal consultation solution of the General Taxation Coordination (Cosit) of the Federal Revenue, which generates indirect tax on orange juice exports, by charging corporate income tax on import fees paid by Brazilian companies abroad, mostly in the American market. The proposal goes to be analyzed by the Constitution and Justice and Citizenship Commission (CCJ). According to Deputy Zé Silva (SD-MG), the internal consultation is viewed as a barrier to exports, as the Brazilian agricultural sector is dealing with a crisis in the international markets. For Congressman Júlio Cesar (PSD-PI), president of the CFT, the decree is how they can correct the injustices with this important sector of the Brazilian economy. “Brazilian producers have been suffering from the strong global trade protectionism, it is not fair that we create more taxes that can contribute to the end of this production chain in Brazil,” he said.

Source: Canal Rural (*Translated by Ia Niani)