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By Ben Tavener, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Car manufacturers who start using a minimum proportion of components made in Brazil in their vehicles, and also invest in innovation within the country, will pay a lower rate of IPI – the tax paid on industrialized products. Those failing to meet the requirements could have 30 percentage points added to their rate of tax.

The government wants to improve the competitiveness of Brazil’s carmakers and stimulate production in the country. Consumers are hoping to see some of the Subscribe to our Premium Membership Plan. Already Subscribed?