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Brazil promotes wind power with tax break

Brazil promotes wind power with tax break

BRASÍLIA (BDCi) – In an effort to boost the demand for locally-produced turbines, the Brazilian government has approved a provisional measure to eliminate some of the taxes it currently places on wind components.

According to experts, the wind industry in Brazil does not garner the same attention or benefits as other industries.

Under the measure, manufacturers will no longer have to pay 9.25 percent in social integration and social security financing taxes in order to purchase the components necessary for wind turbines.

Parts made in Brazil or imported into the country are covered by the new measure.

Nonetheless, wind power developers will still have to pay the same tax for buying turbines from abroad.