Brazilian cocoa more competitive: new tax regime could boost production

Published 2024년 12월 20일

Tridge summary

The Agriculture, Livestock, Supply and Rural Development Committee of the Brazilian Chamber of Deputies has approved a bill to stimulate the establishment of cocoa processing plants in the country. The bill introduces a special tax regime, Recacau, which suspends federal taxes on the purchase of machinery, equipment, and construction materials for five years for companies involved in building these plants. Rural producers, including those in cooperatives and associations, can also benefit from this regime. The bill is now set to be analyzed by other committees before being presented for a final vote in the Chamber of Deputies and the Senate.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Agriculture, Livestock, Supply and Rural Development Committee of the Chamber of Deputies approved a bill that establishes a special tax regime to encourage the implementation of cocoa processing plants in the country. The text provides that, for five years, participants in the Special Incentive Regime for the Development of the Primary Cocoa Pulp Processing Industry (Recacau) will have the requirement of federal taxes suspended on the purchase of machinery, equipment and construction materials. Companies that provide services related to the construction of cocoa processing plants will also be entitled to the benefits. Rural producers, including those organized in associations or cooperatives, who have projects to create a processing plant may participate in Recacau. The rapporteur of the Bill (PL – 1892/22), Deputy Thiago Flores (Republicanos-RO), accepted an amendment to allow existing primary cocoa processing plants to also participate in the program. Flores stated that the ...

Source: CanalRural