April 2, 2013 / 12:36 PM / in 5 years

REFILE-Brazil cuts financial tax on infrastructure projects to zero

SAO PAULO, April 2 (Reuters) - Brazil slashed a financial transactions tax on several infrastructure projects to zero, according to a government decree published on Tuesday, in another bid to boost investments and kickstart economic growth.

The move ends the so-called IOF tax on certain types of working capital for infrastructure, on operations to finance the purchase or leasing of capital goods, and on roads and railways concessions, among other infrastructure projects.

The decree did not specify the previous levy.

Brazil, host to the 2014 World Cup and 2016 Olympic Games, has suffered recently with weak growth and high inflation rates after years of low investments.

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