Brazil. Again the Brazilian government extended the exemption from the IPI, Tax on industrial products, for water-based paints that went from 5% to zero.In April 2009 this process began in which the reduction of the IPI reached zero, after having a rate of 2%. This reduction, which was established by Decree No. 6,890, benefits 30 basic items for construction.
The extension of the readjustment began with a period of three months, then it was extended until June 2009, passing until the end of last year and then until June 2010, but in recent days, according to Decree No. 7,222, the extension will be extended until December 31, 2010.
This measure not only influences the resurgence of the construction industry and economic growth, but also helps more people have access to decent housing. Dilson Ferreira, executive president of Abrafati, said that the studies that the Association presented to the government on the advantages of the tax reduction, achieved that this new extension was carried out.
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