July 2, 2015 / 9:40 AM / in 2 years

Japan takes Brazil to WTO over taxes that favour local firms

GENEVA, July 2 (Reuters) - Japan launched a trade complaint against Brazil at the World Trade Organization on Thursday to challenge charges and taxes that it says illegally favour Brazilian-made goods over foreign competition, the WTO said in a statement.

Japan says Brazil imposes a higher tax burden on importers and provides export-contingent subsidies, affecting sales of Japanese cars, semiconductors, smartphones, software and other hi-tech and automation products, the WTO said.

Under WTO rules, Brazil has 60 days to settle the complaint. After that Japan could ask the WTO to adjudicate. (Reporting by Tom Miles; editing by Stephanie Nebehay)

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