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Government extends IPI reduction to 35% from May

From Sunday (1st), several products will have a 35% reduction in the Tax on Industrialized Products (IPI).Government extends IPI reduction to 35% from May

THE decree with the benefit was published today (29) in Official Diary of the Union.

According to the Ministry of Economy, the Union will fail to collect BRL 15.2 billion in 2022, BRL 27.3 billion in 2023 and BRL 29.3 billion in 2024. In a note, the Government Secretariat informed that the exemption is intended to guarantee the continuity of stimulus to the economy.

“The present measure aims to stimulate the economy, affected by the pandemic caused by the coronavirus, in order to ensure the levels of economic activity and the employment of workers”, wrote the Secretary of Government. Since February, a series of products had the IPI reduced by 25%. Now, the decree increased the cut to 35%.

Some of the products that will benefit from the cut are the following: television and sound equipment, weapons, metallurgy articles, toys, shoes, cars, machinery, furniture and fabrics. Only cigarettes, considered harmful to health, continue with an IPI tax of 300%.

Por meio da rede social Twitter, o presidente Jair Bolsonaro comentou a medida. He classified the IPI reduction as an instrument to maintain “the efforts of re-industrialization in the national territory, through the incentive to competitiveness and generation of employment and income in all regions”.

free zone

To maintain the competitiveness of the Manaus Free Trade Zone, which already manufactures industrialized products under a special tax regime, the government kept the IPI cut at 25% for most goods produced locally. The new decree did not include products that account for 76% of the Amazon industrial pole’s revenue.

Among the items manufactured in the Free Zone that will continue to be cut by 25% of the IPI are air conditioners, razors, car stereos, TV sets, jewelry and other precious metals, bicycles, consoles and machines. video game consoles, printer tapes, microwave ovens, modems, motorcycles and parts, motherboards, non-alcoholic soda preparations, integrated receivers and decoders, wristwatches, smartphones and cell phones.

The Federal Revenue did not detail which products, which correspond to the remaining 24% of the turnover of the industrial pole of Manaus, will have their IPI rates reduced by 35%.

CNI

In a note, the National Confederation of Industry (CNI) reported that it considers the expansion of the IPI tax to be positive. For the entity, the decision reduces the inflationary pressure on the productive sectors and increases the attractiveness for investments. According to the confederation, taxation on industry is practically double the average for the Brazilian economy.

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