Bill in Brazil’s Congress Proposes Zero Excise Taxes on Electric Cars
RIO DE JANEIRO, BRAZIL – Published on Wednesday, December 9th in the Chamber of Deputies’ News Agency, Bill no. 5308/20, authored by deputy Luiz Nishimori (PL-PR), proposes the exemption of the Tax on Industrialized Products (IPI) on imports and exports of electric or hybrid vehicles.
The bill, currently in progress in the Chamber of Deputies, also zeroes the PIS/PASEP (Social Integration Program Tax on Revenue) and the COFINS (Social Security Financing Tax on Revenue) on imports and on the gross sales revenue of these vehicles in the domestic market.
Affordable prices and zero emissions
The purpose of the measure is to encourage demand for electric vehicles in Brazil, thereby rendering prices more affordable, and thus creating opportunities for further investment in the sector by generating jobs and income, explains the deputy.
Nishimori also mentions the environmental issue, explaining to the Chamber of Deputies portal that, when compared to cars powered exclusively by combustion engines, electric and hybrid cars are more efficient, quieter and cleaner.
The deputy recognizes that, despite these benefits, the electrics market is still very restricted in Brazil. According to him, the increase in supply has occurred mainly among luxury models, which are “inaccessible to most Brazilians”.
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