The Ministry of Development, Industry and Foreign Trade (MDIC) announced the concession of the firstdefinitive qualifications to the regime of Inovar-Auto.
Inovar-Auto has 22 companies qualified permanently
The Ministry of Development, Industry and Foreign Trade (MDIC) announced the concession of the firstdefinitive qualifications to the regime of Inovar-Auto, automotive program which came into force in Januarypredicting tax reduction through the achievement of goals. In the first phase, 22 companies were registered as importers or local manufacturers. The approval is valid until May 31, 2014.
See the presentation with the rules of INOVAR-AUTO
MDIC explains Decree that modified Inovar-Auto
After the publication of Decree 8015 in the Federal Official Gazette on Monday, the Ministry of Development, Industry and Foreign Trade (MDIC) justified the changes made to the system Inovar-Auto.
In a statement, the government reported that some changes were made to enclose also hybrid and electric vehicles. The goal, they say, is to create conditions for such models also come to be made in the country.
In a statement, the ministry said that one of the main points of the Decree concerns to the technologiesconsidered for calculating energy efficiency. Comprising models with hybrid and electrical propulsion, emergedwith the main objective of ensuring better utilization of power generated, one can obtain advances in this direction for the national market. However, the tax law provides tupiniquim* still charging 25% Tax on Industrialized Products (IPI) for models with such locomotion systems.
The ministry also advises that the calculations of efficiency of each company will be registered by 31stDecember 2017. If the goal is not reached, there will be application of fines. However, the fact does not cause the manufacturer withdrawn from the program.
*In Brazil, the term "Tupiniquim" has come to mean "Brazilian" or "national”. The term is used as both a noun and an adjective.T