BRASILIA : Brazil will end a tax exemption for importing electric vehicles, gradually raising the duty to 35 per cent over three years, Industry Ministry official Uallace Moreira told Reuters on Friday.
"What can we do to stimulate local production? Make imports a little more difficult or more expensive," Moreira said, arguing that several countries have adopted protectionist policies in this sector. Moreira said the tariff will be implemented gradually, so as not to create a shock in the market, and will be in line with the government's plan to increase private investment in green technology.
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