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Brazil Extends Broadband Tax Breaks

by Mike Godfrey, Tax-News.com, Washington

19 November 2014


Brazil has extended by one year the deadline for submissions under the tax break program for broadband infrastructure projects, according to an announcement from the Ministry of Communications.

Pursuant to the publication of Law No 13,043 on November 14, 2014, the deadline has been extended until June 30, 2015.

The program, which in Portuguese is called Regime Especial de Tributação do Programa Nacional de Banda Larga (REPNBL), was created with the aim of encouraging investments in the telecommunications sector in Brazil by providing tax relief.

Under the program telecommunication network construction projects are exempt from the Tax on Industrialized Products (IPI), the Social Integration Program (PIS) tax and the Contribution to Social Security Financing (COFINS) tax.

Projects submitted under the program must be approved by the Ministry of Communications and the Internal Revenue Service. Tax relief will be provided under the program until December 31, 2016.

In September this year the Ministry of Communications revealed that BRL15bn (USD6.8bn) worth of investment in broadband has been approved under REPNBL. This investment is expected to benefit 1,754 cities.

TAGS: tax | investment | tax incentives | Brazil | tax breaks | construction | Communications | Tax

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