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'Brazil govt may create tax regime for textiles & apparel'
14
Nov '13
The Brazilian Government is examining the possibilities of creating a differential tax regime for textile and clothing sector of the country, especially in terms of the key proposal to include a ‘layette kit’, consisting of 39 products, which include bed, bath and home textiles, among the benefits of the federal program ‘Minha Casa Melhor’ (My Better House), one of the initiatives undertaken by Brazilian President Dilma Roussef, announced president of the Brazilian Agency for Industrial Development (ABDI), Mauro Borges.
 
According to a statement issued by the Brazilian Industrial Portal, the ABDI official was speaking at an event organized by the National Industrial Apprenticeship Service (SENAI) at the Technology Center of Chemical and Textile Industry (CETIQT).
 
The two proposals were submitted to the Government by the Brazilian Textile Industry Association (ABIT) with the objective of increasing competitiveness in the sector, which faces tough competition from international markets.
 
Mr. Borges said the ABDI would keep pushing the Government for the scheme next year, as the sector is highly relevant to the country and has a very large multiplier effect.
 
According to the ABIT, the rate of federal taxes on the textile and apparel products of the country rotate on an average between 18 to 22 percent, and it should be brought down to 6 percent. 
 
The ABIT has urged the Government to create a differentiated tax regime for the sector, even if it would be applicable for a temporary period of three to five years. During this period, the Government would be able to notice the changes brought on by the regime in the sector.
 
The ‘Minha Casa Melhor’ program is a special line of credit provided by the Brazilian Government through its housing program for citizens who wish to purchase home appliances and furniture, which includes purchases of home textiles. 
 

Fibre2fashion News Desk - India

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