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Exemption on Payroll Benefits Fasteners Manufacturers Since January
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2013-07-12

In Brazil, “the Provisional Measure 582/12," which grants the benefit of exemption from payroll to various sectors of the economy, comes into force at the beginning of this year. By March 3, 2013, 42 sectors are already on the list of beneficiaries. Among them are manufacturers of products in segments of poultry and swine, metal construction, railway equipment, tools, forged steel, optical instruments, fishes, medical and dental equipment, bicycles, tires, paper and pulp, glass; stoves and refrigerators, ceramics, paints and varnishes, and especially fasteners.
This exemption will demand waiver of US$ 16 billion on next two years (US$ 7 billion on 2013 and US$ 9 billion on 2014), according to the declaration from Márcio Holland, Secretary of Economic Policy of the Ministry of Finance. The benefited companies may replace the employer pension contributions of 20% on the payroll tax rates by alíquots of 1% to 2%, as applicable, on gross revenue - excluding canceled sales and discounts. Thus, the government searches to increase the productivity and competitiveness of economic sectors and extends the formalization of labor in the country.
The actions provided for in Law Nº 12.715 of September 17, 2012, are part of the Plano Brasil Maior (Greater Brazil Plan) and will continue the policy of reducing production costs, which began with the Measure Provisional 540/11 and 563/12.

 
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by Sérgio Milatias, Executive Editor (www.revistadoparafuso.com.br) arranged by Fastener World Inc.

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