Brazil recently approved a law for expanding tax breaks for its IT industry on 11 August 2014. This law extends for till 31 December 2050 in the northern Brazil and extends for the Manaus Free Trade Zone until 2073. The current tax reduction rate of 80% will remain same till 2024 and in between 2025 to 2026 tax reduction rate at 75% and 2027 to 2029 at 70% will be applied.
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