News International Sugar Journal

Brazil – New tax benefits unveiled for the sugar-ethanol sectors [Registered]

Brazil’s government unveiled measures on 9th September to help the country’s ailing sugar and ethanol sectors. Finance Minister Guido Mantega said the government will offer tax benefits as part of a broader program designed to stimulate sales abroad. Sugar and ethanol producers will receive a tax credit equivalent to 0.3% of the value of their exports for the remainder of this year and get a 3% credit from the beginning of next year. The new plan “will make Brazilian exports cheaper and compensate for any eventual” appreciation of the Brazilian real, Mr. Mantega said. Subsidy on gasoline price has adversely…

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