House considers VAT exemption for cross-border leasing.

Australasian Business Intelligence,  May, 2006  

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Byline: David Roberto R Soares da Silva

May 31, 2006 (Tax Notes International - ABIX via COMTEX) -- Brazil's technological capabilities will arguably benefit if a new piece of tax legislation is approved. The bill, introduced in January 2006, would eliminate what is known as the state value added tax (ICMS) on equipment that is imported into Brazil under cross-border leasing arrangements. Currently, an ICMS of up to 18 per cent is applied to such ...

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