São Paulo – The Foreign Trade Chamber (Camex, in the Portuguese acronym) of the Brazilian Ministry of Development, Industry and Foreign Trade has extended tax exemption on methanol imports for an additional 180 days. The ruling has been published this Friday (5th) on the Federal Official Gazette.
Methanol is an input used in manufacturing biodiesel, industrial resins, additives and formaldehyde. The Camex’s ruling exempts imports from tax up to a maximum quota of 282,500 tonnes and enters into force as of October 3rd. The tax break had already been extended last March.
*Translated by Gabriel Pomerancblum
