The import tax of the five industrial inputs glyphosate and its monoisopropylamine salt was reduced from 9.6% to 3.8%. The products were included in the List of Exceptions to the Mercosur Common External Tariff (Letec). Four other types of plastic resin used in industrial activities were also reduced. “The tax reduction took into account the problems with supply in relation to some production chains with different degrees of severity, and significant cost increases. Reducing import tax can improve the allocational efficiency of resources in the economy, with potential gains for different industrial segments”, said the Ministry of Economy in a note.
Source: Notícias Agrícolas (*Translated by Ia Niani)