Chamber approves provisional measure that waives export limits for oxygen companiesJun, 09, 2021 Posted by Ruth Hollard
On Tuesday, June 8, the Chamber of Deputies approved Provisional Measure (MP) 1033/21, which exempts, during 2021, companies located in Export Processing Zones (EPZs) who are producing medicinal oxygen from the requirement that 80% of their annual revenue must come from sales of this product to the foreign market. Oxygen is one of the main medical supplies used in hospitals to treat severe cases of Covid-19. The matter will be sent to the Senate.
According to the approved substitute, by Deputy Lucas Vergílio (Solidariedade-GO), the legislation on ZPEs is being reformulated, allowing the installation of companies that export services.
The EPZs are special areas where authorized companies enjoy tax exemptions on the purchase of machinery, raw materials, and inputs used to produce their goods to be exported. Customs treatment is differentiated and currently, these zones can only be installed in less developed regions in order to reduce regional imbalances.
According to the text, companies exclusively providing services to the foreign market may be installed in ZPEs as long as this does not mean the transfer of an existing company outside this type of area and prohibiting the sale of services to the domestic market.
Source: Câmara de Notícias Agency
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