“BR do Mar” cabotage project set to include tax exemptions again

As of next year, companies in the port sector are hopeful to benefit from the tax break again that was abolished at the end of 2020 due to the resistance from the Ministry of Economy. The forecast for this is in the report presented yesterday to encourage navigation on the Brazilian coast, BR do Mar, which should be voted on by the Senate’s Economic Affairs Committee (CAE) next week.

The opinion of senator Nelsinho Trad (PSD-MS) proposes that the Tax Regime for Incentives to the Modernization and Expansion of the Port Structure (Reporto) be resumed in 2022, for two years. The expectation that the benefit will be reactivated encourages the private sector. The renovation could still, however, come up against resistance by the Ministry of Economy.

When BR do Mar was discussed in the Chamber, in December of last year, deputies approved the extension of the regime until the end of 2021. As the project was stopped in the Senate, companies could not enjoy the benefit this year.

Source: CNN Brazil

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https://www.cnnbrasil.com.br/business/projeto-da-br-do-mar-volta-a-incluir-isncoes-tributarias/

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