May 11, 2020 / 7:21 PM / 22 days ago

Brazil to announce new business measures, eyes tax exemptions: official

BRASILIA (Reuters) - Brazil will announce further measures to support businesses and help preserve jobs in the coming weeks, productivity and competition secretary Carlos da Costa said on Monday, adding that the government is considering longer-term tax exemptions for companies.

Speaking at an online live event hosted by BTG Pactual, da Costa said the government is aiming to reduce the so-called ‘Brazil Cost’ of doing business in the country by more than 20%, which will help spur private investment and the economic recovery.

He also said that commercial air traffic in Brazil will not return to last year’s levels for another three years.

Reporting by Marcela Ayres; Writing by Jamie McGeever; Editing by Sandra Maler

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