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Industry buzz

Cosmetics manufacturers want to discuss tax increases with the Federal government

Since the Minister of Finance, Joaquim Levy, announced, on January 19, the increase in the tax burden for the beauty sector, the Brazilian Association of Toiletries, Perfumes and Cosmetics (ABIHPEC) has been seeking the dialogue with the federal government.

João Carlos Basilio, President of ABIHPEC

João Carlos Basilio, President of ABIHPEC

"We continue to expect that the Government will receive us to discuss the subject in order to explain the negative implications for the sector and the whole society should the measures be maintained," said João Carlos Basilio, President of ABIHPEC.

The Minister of Finance announced that the tax on industrialized products (IPI) applicable to cosmetics would now be charged on the retail sector, as it is already the case in the industrial sector.

The Brazilian government also announced that the Social Integration Program (PIS) tax and the Contribution to Social Security Financing (COFINS) applicable to imported products would be increased from 9.25% to 11.75%.

© 2015 - Brazil Beauty News - www.brazilbeautynews.com

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