Brazil approves tax breaks for defense industry

The Chamber of Deputies approved a rule that gives tax breaks to the Brazilian defense industry as part of a government effort to revive the sector. The law, passed Tuesday night, suspending the application of the tax on industrialized products weighing on parts, components, equipment, supplies, raw materials and services used by defense companies recognized by the government. The tax suspension will run for five years from its entry into force, which depends on the approval of the Senate and ratification of President Dilma Rousseff. Read Article