AreaBrazil

Commodity GroupMeat

CommodityAll

Date28/02/2024

Policy CategoryProduction

Policy InstrumentProduction support, tax policy

DescriptionRevoked part of the Provisional Measure, signed on 28 December 2023, in the framework of the tax reform approved in July 2023, aiming to replace federal, state and local taxes with a simplified value added tax (VAT), as the reforms would have removed certain tax exemptions benefits earlier granted to the agriculture sector. The new VAT system was scheduled to enter into force 1 April 2024.