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[BUSINESS] · Brazil · 2 sources

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Luciano Hang criticizes potential removal of import tax

Havan owner Luciano Hang has criticized a recent announcement regarding the potential elimination of the 20% import tax on international purchases of up to 50 dollars. Hang argued that if taxes are lowered for foreign goods, they must also be lowered for domestic products to prevent deindustrialization and unemployment.

The controversy follows an agreement between the presidents of the Senate and the Chamber of Deputies to vote on ending the tax. Hang noted that while international products may enter with minimal federal taxation, national products often face tax rates between 80% and 120%.

Entities

Havan · Luciano Hang · Luiz Inácio Lula da Silva