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Today’s Top Headlines

Brazil Enacts Extension Of Manaus Free Zone

by Mike Godfrey,, Washington

08 August 2014

The Brazilian government announced that Congress enacted Constitutional Amendment 83/2014, which extends the validity of the Free Economic Zone of Manaus, on August 5, 2014.

The amendment extends the tax incentives of the free zone, which is located in the northern Brazilian state of Amazonas, to 2073 from 2023.

Senator Eduardo Braga, the former governor of Amazonas, previously said that the extension of the free zone will ensure more development, more investment, and more jobs in the western Amazon region.

The free zone is home to around 600 high-tech companies in the electronics, IT, and vehicle production sectors, according to Braga. In 2013, these companies generated nearly 113,000 jobs and nearly USD90bn of revenue, he said.

TAGS: tax | investment | tax incentives | Brazil | trade | free trade zone

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