New Brazil tax regime could hit fertilizers

摘要

IN A sweeping overhaul of its mineral tax code, Brazil plans to increase levies on a wide range of resources, which could include fertilizers such as potash and phosphates. The object is not just to raise revenue, but to favour downstream processing in the country. The initial plan calls for four categories with graduated taxes from the highest for raw exports like iron ore to the lowest for finished materials, according to The National Department of Mineral Production's published proposal: Taxation of Mining Activi ties in Brazil – Analysis of Current Situation and of Changes Proposed for Tax Reform.