Brazil. The federal government extended until December 31, 2013 the reduction of the tax on industrialized products for building materials including architectural paintings.
The decision was confirmed by Finance Minister Guido Mantega as part of a set of measures to stimulate consumption and reverse the slowdown in the economy.
In addition, the reduction of this tax for vehicles was extended for more than twelve months, while the measure for white goods and furniture will apply until December of this year.
The Brazilian Association of Paint Manufacturers, Abrafati, was pleased with the decision: "Abrafati has acted on various fronts to raise the competitiveness of paints, and has often worked with other associations in the sector or the government. The stimulus measures in other sectors are also very positive to resume economic and sector growth, which will also have an effect on automotive and industrial coatings," said Dilson Ferreira, Executive Chairman of Abrafati.
