Brazil to extend tax breaks to construction sector
BRASILIA Dec 4 (Reuters) - Brazil will extend payroll tax exemptions to the country's construction sector, Finance Minister Guido Mantega said on Tuesday, the latest in a flurry of tax breaks to local businesses aimed at supporting a lackluster economy.
The Brazilian economy grew much less than expected in the third quarter, surprising private economists and even the government.
Brazil's biggest publicly listed homebuilders, including PDG Realty SA, Cyrela Brazil Realty SA and Gafisa SA, have struggled over the past year as demand cooled and projects overran budgets and timetables. (Reporting By Alonso Soto; Editing by Chizu Nomiyama)
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- French warplanes search Mali desert for crashed Air Algerie plane |
- Wreckage of Air Algerie plane carrying 116 people found in Mali |
- Crunch time for Gaza truce talks as death toll passes 800 |
- World's oldest joke traced back to 1900 BC