Measure approved to exempt EPZ companies from 80% gross revenue target

On September 22, the Chamber of Deputies approved Provisional Measure 973/20, which exempts companies located in export processing zones (EPZs) from having to gain 80% of their gross revenues from exported goods this year. The text is now going to the Senate.

EPZs are industrial districts whose companies benefit from the suspension of export taxes among other benefits. On the other hand, at least 80% of the total gross revenue must come from exports, a rule created by Law 11.508/07.

Through an agreement between party leaders, Deputy Júlio Cesar (PSD-PI), spokesperson for the provisional measure, recommended the approval of the text as presented by the government. The idea is to preserve companies that are struggling to meet their target due to the Covid-19 pandemic.

The provisional measure will expire on Thursday (24) if it is not approved by the Senate by then. According to the Ministry of Economy, Brazil currently has 25 authorized SPZs, 19 of which are currently being implemented, located in 17 states.

Source: Agência Câmara de Notícias

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