(Reuters) – Brazil’s government announced a 25% cut to its industrial tax (IPI) for most products in a move to ease inflation and help local industry recover from a pandemic downturn, the country’s official gazette showed on Friday.
The tax cut “is a milestone of the beginning of Brazilian reindustrialization after four decades of de-industrialization,” said the country’s Minister of Economy Paulo Guedes.
Reuters previously reported on the tax cut.
(Reporting by Marcela Ayres; Writing by Peter Frontini; Editing by Chris Reese)
