Presidential decree 656, published late on Wednesday, established a mechanism for manufacturers to access tax reductions of about 10% in relation to the PIS and Cofins taxes – two specific levies under Brazil’s complex taxation system.
The reductions cover wind turbine components produced in Brazil and imported from abroad starting from January 2015.
“This will effectively bring back competition to the sector," said Élbia Melo, executive president of the Brazilian Wind Power Association (ABEEólica).
