Legislation has been introduced in Brazil's Chamber of Deputies to provide an exemption from federal excise tax on manufactured products (Imposto sobre Produtos Industrializados - IPI) for products that are essential for health, education and security. If adopted, the IPI exemption would apply for products purchased by municipalities, states, not-for-profit foundations and public enterprises, but IPI would become due if the products are subsequently sold within two years.
Note - IPI is levie…