Brazil announces tax breaks

Brazil announces tax breaksRio de Janeiro, March 13 - Brazil has announced 20 to 80 percent tax cuts for television, broadband and mobile internet businesses as an incentive to expand the country's communications network.

In return for the tax breaks, the companies are required to purchase local materials and invest in less developed regions of Brazil, reported Xinhua.

The tax cuts are expected to bring in some 18 billion reals ($9.15 billion) in new investment by communication companies over the next few years for network expansion.

The move came less than a week after Brazil cut federal taxes last Friday for several staple foods and cleaning products, which will lower their prices by about 10 percent.

In 2012, Brazil's growth rate registered a lower-than-expected 0.9 percent, while unemployment fell to a record-low 4.6 percent. (IANS)

General: 



Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Popular Stories

Sufi legend Begum Yaman passes away at 52

New Delhi [India], Apr 28 : Famous sufi singer and... Read More

No farmer committed suicide over drought: TN Govt. to SC

New Delhi [India], Apr. 28 : In a development bound... Read More

Never took studies as 'burden', says JEE 2017 topper

Udaipur (Rajsthan) [India], Apr 28 : Kalpit Veerwal... Read More

Narada sting: ED files case against TMC leaders

New Delhi [India], Apr. 28 : After the Central... Read More

UP STF raids petrol pumps, eight caught using cheating chip

Lucknow (Uttar Pradesh), April 28 : The special... Read More

UP school issues bizarre diktat: Yogi haircut

Meerut (Uttar Pradesh) [India], Apr 28 : In a... Read More