Chamber approves extension of incentives for companies in the Northeast and Amazon
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This benefit for companies in the Sudam and Sudene areas has existed since 2000 and its first version ended in 2013
The Chamber of Deputies approved this Wednesday (22) Bill 4416/21, by deputy Júlio Cesar (PSD), which extends tax incentives for companies located in the areas where the Northeast Development Superintendency operates from 2023 until 2028 ( Sudene) and the Amazon Development Superintendency (Sudam). The matter will be sent to presidential approval.
The deputies rejected the Senate amendment that extended the benefit to companies located in the Central-West, the area covered by the Central-West Development Superintendence (Sudeco).
This benefit for companies in the Sudam and Sudene areas has existed since 2000 and its first version ended in 2013, when it was extended until 2018 and then until 2023.
Thus, companies from the states served by these superintendences will have until December 31, 2028 to present and have approved installation, expansion, modernization or diversification projects in sectors of the economy considered priorities for regional development, according to a decree from the Executive Branch.
The incentive corresponds to a 75% reduction in income tax and additional taxes calculated based on the profit from operating the business.
Estimates from the Federal Revenue indicate that this incentive will imply relief, in 2023, of the order of R$6.0 billion in Sudam and R$8.5 billion in Sudene. According to the text, the government must, after the law is sanctioned, include the waiver in the annual budget law.
*With information from the Chamber
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