Wet blue export duty extended in Brazil for another year
03/12/2001
The Brazilian Federal Government has decided to extend its 9% duty on wet blue exports for a further 12 months.
Roberto Giannetti da Fonseca, executive secretary of CAMEX (the Brazilian Chamber of Foreign Trade) explained that the tax has succeeded in attracting foreign investment for the production of finished leather in Brazil. He emphasised the importance of the production of finished leather, claiming that it has a multiplying effect on the economy, adding that at the moment several European companies are investing in the sector in Brazil.
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