Brazilian Government Presents Proposal for a Free Trade Zone in the State of Paraná
The Brazilian government is discussing a Bill of Law on the establishment of a free trade zone in the State of Paraná’s municipalities of Foz do Iguaçu, Guairá and Barracão. The free trade zone is supposed to push competition against neighboring cities in Argentina and Paraguay.
The benefits of the free trade zone are expected to include exemption from the import tax (II – imposto sobre a importação) and tax over industrialized products (IPI – imposto sobre produtos industrializados) on foreign goods, and the exemption from the IPI tax on national goods. The benefits are expected to apply during 25 years.