Automakers advocate for hike in import tax rate, selective tax waiver

Brazilian automakers argued on Thursday (July 4) that combustion vehicles should be excluded from the so-called selective tax, as outlined in the tax reform regulations, and proposed an increase in the import tax rate on vehicles to 35%.

During a press conference in São Paulo, Márcio Lima, president of the National Association of Motor Vehicle Manufacturers (Anfavea), stated that including combustion vehicles in the selective tax undermines the renewal of the Brazilian car fleet and contradicts Brazil’s decarbonization efforts.

At the same event, Ciro Possobom, president of Volkswagen Brasil, supported the increase in the import tax as a means of “stimulating the national industry.”

Source: BOL

Click here to access the original story report: https://www.bol.uol.com.br/noticias/2024/07/04/montadoras-defendem-exclusao-de-imposto-seletivo-e-aumento-de-tarifa-para-importacoes.htm

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