Home world Bolsonaro sanctions changes to Computer Law

bannerebay

Bolsonaro sanctions changes to Computer Law

by ace
Bolsonaro sanctions changes to Computer Law

+

The President Jair Bolsonaro (Photo: Marcelo Camargo / Agência Brasil)

President Jair Bolsonaro passed Friday law 13,696, which amends the Computer Law and provides tax incentives for the production of notebooks, tablets and mobile phones in the country, among other items.

The text was approved by Congress on December 16. Brazil has until December 31 to present to the World Trade Organization (WTO) a new policy for the sector, after Japan and the European Union questioned the Brazilian rules and won the cause.

know more

To avoid trade retaliation, Congress approved the replacement of the tax benefits linked to the IPI with a new regime that uses tax credits from a new scoring system that values ​​productive steps taken in the country.

In an attempt to maintain the same amount of tax waiver provided for in current legislation, the new system now requires national component levels and exchanges investments in technology research for tax credits, which may be widely used.

The WTO does not agree with the use of IPI to stimulate investments and condemns the different treatment given to domestic and foreign companies.

The president vetoed a provision that allowed companies that opted for the new regime and developed technology in the country to generate additional financial credit of three quarters of the value of the investment made. The justification is that the paragraph violates the Fiscal Responsibility Law, since the tax waiver provided for in the law was not accompanied by a source of funds to support it.

According to a note distributed by the Presidency of the Republic, an article was also vetoed from prohibiting the participation in incentive programs of the Federal Government of companies whose owners, controllers, directors and their respective spouses hold commissioned or elective positions. The justification given is that the provision violates the "principle of isonomy or material equality" provided for in the Constitution.

In force since 1991, the law provides for staggered benefits until 2029. Computer and automation goods companies, for example, have a 80% IPI rebate by 2024. In the final stage, the rebate drops to 70%.

Did you like our story? click here to subscribe to our newsletter and receive more content.

. (tagsToTranslate) Internet (t) Federal Government (t) Jair Bolsonaro

banneraliexp

Related Articles

Leave a Comment

6 + 14 =

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More