The government issued a decree to postpone by 30 days the beginning of the effectiveness of the Table of Incidence of the Tax on Industrialized Products (TIPI) of 2022, according to the Official Gazette of the Union this Friday.
As a result, the 2017 table remains in effect during this period with the changes promoted by Decree No. 10,979, of February 25, 2022, according to a government note.
The decree at the end of February reduced the rates of the Tax on Industrialized Products (IPI) by 25% for all products, with the exception of tobacco.
“With the proposal, it will be possible to maintain the stimulus to the economy, affected by the pandemic caused by the coronavirus, in order to ensure the levels of economic activity and the employment of workers. In this way, it is expected to promote the economic recovery of the country”, said the General Secretariat of the Presidency of the Republic in a note, explaining that the decree will enter into force immediately and does not depend on the approval of the Legislative.
The market had been waiting for the announcement this Friday of a new reduction in the Tax on Industrialized Products (IPI) that would take the total cut of the rates to 33%.
Asked, the Economy Ministry did not immediately respond to requests for further comment.
Source: CNN Brasil
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