Bolsonaro Lowers Import Taxes on Electronic Games Hardware

RIO DE JANEIRO, BRAZIL – President Jair Bolsonaro has lowered taxes on the import of electronic games. The rates of the Tax on Industrialized Products (IPI) on consoles and video game machines, parts, and accessories that ranged from 20 to 50 percent, have been reduced to 16 to 40 percent.

The decree amending the IPI table has been published in the Federal Gazette and came into force on August 15th.

Bolsonaro had already expressed his interest in reducing the tax burden on these products since Brazil is a large market for the sector. “It is a small step and this money remains in the hands of the public”, he said in an interview when leaving the Palácio da Alvorada, last week.

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