With 90 days left before the expiration of Reporto, a tax regime aimed at modernizing and expanding port infrastructure in the country, the Brazilian Federal Government has chosen to make the executive order that would have extended the text into a bill. The fiscal benefit of importing equipment and investing in infrastructure at Brazilian ports will end on December 31. The Ministry of Ports and Airports stated, “In discussions with the Chief of Staff, it was agreed that the provisional measure would be converted into a bill. Once done, it was submitted to the Chief of Staff, who, after analysis, requested input from the Ministry of Finances and the Ministry of Transport through the National Railway Transportation Secretariat (SNTF), whose sector benefits significantly from Reporto, as does the port sector.”
Sources: A Tribuna/Datamar News