Provisional measure exempts companies in EPZs from needing to fulfill minimum export requirement

Provisional Measure 973/20 came into force on May 28th, which exempts companies this year that are located in export processing zones (EPZs) from fulfilling the legal requirement of having at least 80% of gross revenue linked to sales abroad.  The objective of the provisional measure, according to the government, is to help exporting companies that will have difficulty meeting the minimum percentage in a scenario of global economic crisis, caused by the pandemic caused by Covid-19.

It is worth remembering that the EPZs are industrial districts, within which companies benefit from the suspension of taxes to export, 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.  According to the Ministry of Economy, Brazil currently has 25 authorized EPZs, 19 of which are currently being set up, distributed across 17 states.

Source: Agência Câmara de Notícias

Sharing is caring!