As part of Provisional Measure 651/2014, published on 10 July 2014, Brazil has permanently reinstated a special tax refund regime for exporters. The regime, Reintegra, had expired on 31 December 2013.
The regime reimburses exporters in the form of a tax credit for indirect taxes imposed, including local service tax, the financial transactions tax, and the royalty tax. The credit is calculated as 0.1% to 3% of the exporters gross income based on the value of the exported goods at the port of…