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Brazil to end import tax exemption for electric vehicles, says official

September 16, 2023
Source: reuters.com reuters.com
News Snapshot:
BRASILIA, Sept 15 (Reuters) - Brazil will end a tax exemption for importing electric vehicles, gradually raising the duty to 35% over three years, Industry Ministry official Uallace Moreira told Reuters on Friday. Brazil-based carmakers lobbied for the measure, overcoming pushback from Chinese manufacturers who sell electric vehicles in the country. However, the final details are still being debated, and its timing will be decided by Industry Minister and Vice-President Geraldo Alckmin, Moreira said. "What can we do to stimulate local production? Make imports a little more difficult or more expensive," Moreira said, arguing that several countries have adopted protectionist...
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China Tech Buzz Topics: Automotive | Brazil | Chinese | commission | electric vehicle | energy | energy efficiency | European | European Union | government | green | green technology | import | investment | IT | LINE | president | production | Reuters | standards | tariff | tax | taxation | technology | Three

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