Brazil vetoes solar equipment import tax exemption bill

Solar photovoltaic plant in Brazil

February 14 (Renewables Now) - The Brazilian Senate has chosen to keep the veto on bill 8322/14 that grants a tax exemption for solar equipment imports.

The government argued that the exemption could decrease the Federal revenue as it did not present compensation measures which is mandatory under the Fiscal Responsibility Law (Complementary Law 101/00).

As the overturning of a veto depends on an absolute majority in both the Senate and House of Representatives, the bill will not be put to vote in the Chamber of Deputies.

Originally, bill 8322/14 proposed the tax exemption to apply only to solar module models that Brazilian companies do not manufacture. It was approved in September 2019 by the Constitution, Justice and Citizenship (CCJ) Committee of Brazil's House of Representatives but later vetoed by President Jair Bolsonaro in November.

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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