Is there a tax rebate for photovoltaic panels in Brazil

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About Is there a tax rebate for photovoltaic panels in Brazil

The government revoked an import tax subsidy on assembled solar panels, as the country manufactures similar products, the industry and trade ministry said in a statement.

Brazil's Ministry of Industry and Trade said in a statement that the country's government has eliminated a 12% import tax subsidy for photovoltaic modules because the country also produces similar .

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6 FAQs about [Is there a tax rebate for photovoltaic panels in Brazil ]

Will Brazil increase import tariffs on photovoltaic modules & wind turbines?

According to foreign reports, on December 12 (last Tuesday), the Brazilian government approved measures to increase import tariffs on photovoltaic modules and wind turbines, saying that this move would promote the production of local renewable energy equipment. This measure will officially take effect on January 1, 2024, two weeks later.

What will Brazil do about photovoltaic production?

Sauaia, from Absolar, said one of the first steps to be taken by the Brazilian government would be establishing a national industrial policy with a series of incentives for local manufacturers, including a tax reduction on the raw materials necessary to produce photovoltaic modules.

Will Brazil reopen tariffs on photovoltaic products?

According to foreign reports, the restoration of tariffs on photovoltaic products has been welcomed by the Brazilian Electrical Industry Association Abinee. The association said local manufacturers "suffered losses and lost jobs". Imported Asian products have an unfair advantage because they are subsidized in their countries of origin.

Will solar panels be taxed abroad?

Therefore, the purchase of solar panels from abroad will again be subject to the 10.8% tax from next year, while the withdrawal of incentives will be effective in about 2 months.

When will 'new' taxes on wind turbines and solar panels come into force?

With this objective, the Brazilian government has recently approved “new” taxes on wind turbines and imported solar panels. The measure, wanted by the Executive Management Committee of the Foreign Chamber of Commerce (Gecex-Camex), should enter into force on 1 January 2024 and remain active until 2017 with different methods for wind and solar.

Will a photovoltaic price drop stunt manufacturing ambitions?

Tan Youru (), a photovoltaic analyst at Bloomberg New Energy Finance (BNEF), believes that a continued price drop in the photovoltaic supply chain might stunt many regions’ ambitions to develop their domestic manufacturing.