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Manaus Free Zone Approves Investments Worth USD1.6bn

by Mike Godfrey, Tax-News.com, Washington

06 May 2015


Brazil's Manaus Free Zone (SUFRAMA) announced on April 30, 2015, that its Board of Directors has approved USD1.6bn worth of new investments, indicating that investor interest in the zone remains strong.

The free zone said that the Board approved 108 project proposals that will create 2,438 new jobs.

The largest of the proposals is a USD405m mobile phone manufacturing project, which would generate 334 new jobs within three years.

Other proposals approved by the Board of Directors include an LED lamp project, a medical equipment project, and a security camera project.

Companies established in SUFRAMA enjoy a number of tax incentives, including exemption from import duties and export duties, and exemption from the PIS/PASEP and COFINS social security contributions for all operations within the free zone.

TAGS: tax | investment | tax incentives | export duty | interest | manufacturing | social security | Brazil | import duty | trade | free trade zone | Other

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