BRASILIA (Reuters) – The Chamber of Deputies on Wednesday approved a provisional measure that resumes exemption from income tax at source for aircraft leasing payments remitted by Brazilian companies abroad, the Câmara de Notícias Agency reported.
Approved this Wednesday, the MP now goes to the Senate. The exemption will be valid until 2023. Created in 2006 and extended until 2019, the exemption had been modified by an MP that provided for a gradual increase to the full rate of 15% from 2023.
According to the text approved by the deputies, the rate will be 1% in 2024; 2% in 2025; 3% in 2026; and goes back to 15% from 2027, according to Agência Câmara.
Airlines were already paying the 15% in 2021.