Brazilian Miners Seek to Remove ‘Disastrous’ Tax Reform Item

Brazilian miners will seek to exclude in the Senate an article in the country’s tax-reform proposal allowing states to create a tax on primary and semi-manufactured products for investment in infrastructure and housing works, Rinaldo Mancini, director of the Brazilian mining institute Ibram, said in an interview.

• Rule increases tax burden on the sector, may restrain investments from the mining sector: Mancini
  • Tax replaces contribution to state funds that have been disputed in Brazil’s Supreme Court
• Impact is “disastrous” for the industry and the country’s exports, Ibram wrote in a statement
• Ibram intends to work together with agribusiness and the ...