Brazil extends tax breaks on computer, smartphone sales

[Wireless News]

http://l1.yimg.com/bt/api/res/1.2/EN4sohbUVOx2K.c6E4j_.g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-08-21T184036Z_1_LYNXMPEA7K0V2_RTROPTP_2_BRAZIL-WORLDCUP-TELECOM.JPG (http://news.yahoo.com/brazil-extends-tax-breaks-computer-smartphone-sales-184036140--finance.html)Brazil extended tax breaks on computer and smartphone sales until the end of 2018, foregoing about 7.9 billion reais ($3.5 billion)in tax revenues next year, the Finance Ministry said on Thursday. The policy of keeping the so-called PIS/Cofins payroll tax at zero for computers, smartphones, tablets, modems and routers was scheduled to finish at the end of 2014, but the ministry said in a note it will be continued for four more years. Brazil is a growing market for computer and electronic devices, with over 270 million cell phones in operation, according to the Finance Ministry. Foreign companies such as South Korea's Samsung Electronics Co Ltd and LG Electronics INC are major players in the local smartphone market.



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