SAO PAULO (Reuters) – Brazil’s Vice President Geraldo Alckmin on Sunday revealed federalgovernment procedures intended at supplying business with tax advantages so they can purchase brand-new equipment and invest in transport.
The procedures are part of President Luiz Inacio Lula da Silva’s strategy to “re-industrialize” Latin America’s biggest economy, where commercial output still lags behind pre-pandemic levels and is more than 18% listedbelow its 2011 high.
The Lula administration hasactually promised to increase industrialization by incentivizing “green” jobs consistingof flex-fuel and electrical cars, eco-friendly power and biofuels.
Alckmin informed a press conference that the veryfirst procedure was an executive order developing the “Mover” program, which reduces earnings taxes imposed on transport business for them to invest in brand-new innovations, re