“IPI reduction should improve the automotive sector”, says expert

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in interview to CNN This Sunday (7), the coordinator of FGV’s automotive courses, Antônio Jorge Martins, stated that the IPI reduction should boost the automotive sector, albeit more psychologically than financially.

The statement comes amid the growth in vehicle production in Brazil, which registered a 33% increase in July in the annual comparison.

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“In general, what has been seen in recent years is a very strong practice used in recent governments to reduce some taxes to improve the tax burden on the automotive sector. This has a very psychological impact on society, because we all have a belief in a high tax burden,” he said.

The specialist pointed out that the sector has faced difficulties since 2019, the last year that presented data at a “reasonable” level of production, before the Covid-19 pandemic.

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“[A redução do IPI] it has a very psychological impact on society, because we all believe in a high tax burden. In practice, the amounts are small, but in any case, this reduction has a psychological impact” he pondered.

Source: CNN Brasil

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