On 11 August 2014, Law 13,023/2014 was published in Brazil's Official Gazette. The law extends certain tax breaks for Brazil's IT industry, and is in force from the date of publication.
The tax breaks extended are in the form of a reduction of the tax on manufactured products (Imposto sobre Produtos Industrializados - IPI) for qualifying IT companies. IPI in brazil varies greatly depending on product types, from 0% to 330%, with 10% being the average.
In order to qualify for the reduction,…