Ethanol import tariff in Brazil cut to zero till December 2022

Brasilia: Ethanol import tariff in Brazil reduced to zero till the end of 2022, announced the Brazilian government on Monday.

Along with ethanol, the government has also reduced the import tariffs for six food products to zero.

According to the Economy Ministry officials, tax on capital goods, computers, and other telecommunication products will be reduced by 10% permanently. The total cost of the measures taken by the government is 1 billion reais.

Along with sugar, the other food items including ground coffee, margarine, cheese, pasta, and soybean oil will also have import taxes cut.

The step was taken by the government in order to curb rising inflation.


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