The Senate approved, this Thursday (9), a PEC which shields the information technology and semiconductor industrial sectors from losing tax incentives in the country. The proposal received approval from deputies and senators and is ready for enactment.
Currently, the so-called tax expenditures total R$ 371.1 billion for the Union. The Emergency PEC, approved in March, determined the reduction of tax waivers by 10% in the first year and a limit of 2% of GDP for these benefits in a period of eight years — today they reach 4% of GDP.
Some sectors, however, were shielded from this cut, including subsidies related to the Simples Nacional and the Manaus Free Trade Zone. The PEC approved on Thursday (9) includes one more sector in the guarantee that there will be no reductions. The change benefits information technology and semiconductor industries that are outside the Free Trade Zone.
As determined by the PEC, the government sent a project to reduce tax incentives this year, but, according to specialists, it is insufficient to reduce the waivers in half, as determined by the Constitution. The National Congress has not yet analyzed the proposal.
Reference: CNN Brasil
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