RIO DE JANEIRO, BRAZIL - The government of President Bolsonaro eliminated on Monday (26) the 150% tax that Brazilian exporters who sell firearms to Central and South American countries had to pay.
The high tax was imposed in 2001 after investigations indicated that thousands of weapons exported from Brazil to neighboring countries, especially Paraguay, were later seized by the authorities in Brazil in criminal hands.
The phenomenon is known as "boomerang exports" practically disappeared when the tax was imposed.
This is the second attempt during Bolsonaro's term to remove barriers to the Brazilian arms trade.
The first, which sought to . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here