Import taxes on corn to be waived in the face of struggling domestic supply
Sep, 17, 2021 Posted by Neeharika KhaitanWeek 202136
Federal deputy Evair de Melo, vice president of the Agricultural Parliamentary Front (FPA), stated on September 16th that the federal government will publish a decree “in the next few hours” to remove the PIS and Cofins taxes on imports.
The animal protein productive sector has defended the measure, seen as a way to reduce the cost of the cereal and make it possible to purchase it from abroad. The domestic corn crop has been affected by drought and frost, thus raising apprehension among farmers who were already concerned about the rise in prices.
The PIS and Cofins exemptions can benefit breeders and companies that do not fall into the category of ‘drawback’ – exporters who receive exemptions for importing raw materials.
Source: Valor Econômico
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