Green products will be exempt from tax reform, says Haddad

by time news

2023-09-19 23:45:30

(Reuters) – Finance Minister Fernando Haddad said on Tuesday that the manufacturing of products with green certification will be “significantly relieved” in Brazil after the approval of the tax reform on consumption, which has already received approval from the Chamber and is awaiting Senate analysis.

At an event promoted by Bloomberg, in New York, Haddad said that the text of the reform considers the government’s ecological transformation plan, without giving further details. One of the points of the proposal foresees the creation of a selective tax, which will tax items considered harmful to the environment or health more heavily.

In the presentation, the minister also stated that Brazil sees itself as a producer and exporter of clean energy, rare metals and green certified products.

Haddad highlighted that Brazil is preparing its own carbon market and should present the taxonomy in the coming weeks with details of what the government seeks to encourage with these operations.

(By Bernardo Caram)

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