Brazil slash import tariffs for duration of World Cup

RIO DE JANEIRO: Brazil’s government slashed import tariffs slapped on beer cans to avoid shortages of the beverage during the World Cup in South Africa.

The Ministry of Development, Industry and Foreign Trade said import tariffs levied on aluminum cans used by the local beer industry will be temporarily reduced from 16% to 2%.

The state news service Agencia Brasil said that the ministry decided to reduce the tariffs to prevent shortages because local can manufacturers are operating to full capacity and consumption is expected to rise by at least 15% during the Wold Cup.

Also, the Central Bank said that when Brazil’s national team take to the field, banks will be allowed to reduce working hours so that their employees can watch the games.

Whenever Brazil play, banks will attend to the public during four hours instead of the normal six. Depending on the hour of a game, banks will either let their employees go home early or close before the game and reopen after the match. — AP

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Stories You'll Enjoy