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Mining Institute Seeks To Overturn Tax Reform Article

BRAZIL
  • Brazilian miners are seeking to exclude an article in the country’s tax-reform proposal allowing states to create a tax on primary and semi-manufactured products for investment in infrastructure and housing works.
  • Speaking in an interview, the director of the Brazilian mining institute Ibram, Rinaldo Mancini, claimed the impact would be “disastrous” for the industry and the country’s exports, writing in a statement. Ibram intends to work together with agribusiness and the oil sector to overturn the rule, Mancini said.
  • As noted earlier, the lower house approved a proposal to overhaul the country’s tax rules last Friday and as a proposed constitutional amendment it still needs to be voted on by the Senate. Finance Minister Haddad said earlier that he will talk on Tuesday to Senate President Rodrigo Pacheco about tax reform.
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