Brasilia-The Brazilian government is reducing the taxes levied on certain feedstocks for petrochemical production, including propane, naphtha, ethane and propylene, according to BN Americas. The reduction from 5.6% to 1% will take effect in mid-May and will remain effective through 2015. Starting in 2016, the taxes will gradually be increased to their current 5.6% level in 2018.
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