For Mantega, the increase in IPI (tax on industrialized products) for imported goods is a "success".
According to the minister, the announcement of new investments by companies in Brazil is "conclusive" proof that the measure is having an effect.
Finance Minister Guido Mantega described the increase in the Tax on Industrialized Products (IPI) on vehicles as a "successful" measure. According to Mantega, the announcement of new investments by companies in Brazil is "conclusive" proof that the measure is having an effect. Mantega reported that data from Anfavea (the Brazilian Association of Automotive Vehicle Manufacturers) indicates investments of US$21 billion between 2011 and 2014.
According to Mantega, the objectives the government pursued with the adoption of these measures were achieved: to guarantee that, in this moment of international crisis and intense competition, the Brazilian market would be enjoyed by companies that invest in Brazil, generate jobs, and pay taxes. "It's having an effect, as we are seeing several factories announce new investments," he said.