ANNOUNCEMENT 28 Jul 2010In July 2010, the government of Brazil announced a targeted tax change.
NUMBER OF INTERVENTIONS
Medida Provis?ria n? 497 -
On July 28th 2010, the 'Medida Provisória nş 497' included a program for incentives for the sectors of capital goods and civil construction associated with the construction or reform of soccer stadiums ( RECOM).
RECOM program grants fiscal benefits to be in place until June 2014 to the local acquisition or imports of machines and equipments as well as building materials (suspension of PIS/PASEP, COFINS and IPI); the benefit also applies to imports of these same kind of goods in case there is no similar product produced in the domestic market, as well as services related to those activities.