March 27, 2013

Brazil not to shift export taxation on soy products

Brazil has no plans to shift taxes to favour exports of soymeal and -oil over exports of soy, but said it could scrap taxes on domestic soy, coffee and sugar production.

This is according to Brazil's Revenue Service.

The newspaper said the government planned to rebalance the tax credits applied to soymeal and -oil to favour value-added export sales, citing a source involved in the negotiations between the industry and the government.