Home / Knowledge / News / Textiles / Brazilian state reduces tax on textiles
Brazilian state reduces tax on textiles
25
Jul '13
Governor of Brazilian state of Rio Grande do Sul, Tarso Genro has signed a decree providing for the reduction of value-added tax (VAT) or tax on circulation of goods and services (ICMS tax) from 17 percent to 12 percent on raw materials for production of finished items to the manufacturing industries of Rio Grande do Sul.
 
The initiative, to be implemented from August 1, 2013, represents the beginning of a process that would be extended to 18 sectors which would be affected by this decree including textiles, garments, hosiery, and dyes. 
 
According to a press release, Governor Tarso Genro said the goal behind the reduction of the tax is to support local industries.
 
The state’s treasury secretary, Gregor Tonollier said the measure is taken to provide greater competitiveness to the industries of the state.
 
The president of the Federation of Chambers of Shopkeeper’s, Vitor Koch, said 40,000 companies would benefit from the government’s initiative and would be able to purchase inputs by paying 12 percent instead of 17 percent tax, and the benefit would be passed on to the consumers who purchase the final products. 
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X