Brazil's Commerce Minister Luiz Fernando Furlan announced last week that a series of tax incentives aimed at domestic industry and exporters will be signed by President Luiz Inácio Lula da Silva in the coming days.
The plans include a proposal to reduce welfare taxes on local purchases and imports of capital goods for companies whose exports make up at least 80% of sales.
The same tax break will be extended to the assets of companies operating technology-services export platforms and exemptions will be offered for retail purchases of computer equipment up to a value of 2,500 reals (US$1,000).
In addition, the minister indicated that businesses would no longer need to gain prior approval to participate in tax incentives aimed at promoting technological enterprises.
Furlan also announced that the time taken to open a company will be reduced to 15 days from 160 days. Similarly, company closures would also take 15 days.
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