Brazil Government Charge of Iron Ore Export Tax to Iron Ore Exporters
February 22nd, 2010 | File Under : Companies - Iron Ore - Mining Exploration
Brazilian government plan implementation costs of iron ore export tax to exporters of iron ore. Application of the tax costs aimed at increasing domestic investment, especially domestic steel production increase.
Brazil is the country’s second largest iron ore exporting; some iron ore production is exported to China for use as raw materials to produce steel in China. Minister of Energy and Mines as Brazil wants the Brazilian government has increased the domestic steel production for domestic purposes. So far, the Brazilian government still imports steel from China which exports iron ore from Brazil.
Minister of Energy and Mines Edison Lobao, said “We are thinking about applying the iron ore export duty and remove taxes on finished” and value-added goods such as steel and steel plate. It is unreasonable to export iron ore to China and then buy a Chinese steel plate. ”
But how costs will apply the tax to exporters of iron ore from Brazil, the Minister of Energy and Mining will hold talks with the Ministry of Finance.
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