By Lisandra Paraguassu
BRASILIA (Reuters) – President Jair Bolsonaro said on Tuesday that the government can expand the IPI reduction to the automobile, motorcycle and white goods sectors, after an overall reduction of 25% approved two weeks ago.
In a speech at an event at the Planalto Palace, the president stated that his government would be making a “revolution in tax reduction” and that the Minister of Economy, Paulo Guedes, would have opened the possibility of a new reduction.
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“There is a possibility, according to Paulo Guedes who said, to reduce even more for cars, motorcycles and white goods”, he said.
At the end of February, the government announced a general reduction in the tax rates for almost all products on which the IPI is levied. In most cases, the reduction was 25%. In some cases, in the case of automobiles, it was lower, around 18%.
The government calculated a reduction in collection of 19.5 billion reais with the change in the tax, but justified it with the claim that, in January, collection grew 18.3% compared to the previous month.
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