São Paulo – Brazilian micro and small businesses registered under tax regime Simples Nacional will now enjoy tax breaks on imports and domestic purchases in connection with exports, as part of a special customs drawback regime. The news was made public this Friday (28) on the website of the Ministry of Industry, Foreign Trade and Services.
According to the ministry, the move will afford greater competitiveness to micro and small enterprises in selling their goods out of the country. A survey from the Foreign Trade Secretariat shows that there are 5,200 micro and small businesses in the country, out of 430,000 manufacturing companies under Simples Nacional that have exported goods last year.
*Translated by Gabriel Pomerancblum
