Brazil is introducing payroll tax relief for the pork and poultry industries in a bid to encourage growth.
The government said that the 20% employer contribution to social security will be replaced by 1% revenue rate for most companies, while firms that export 100% of their pork and poultry production will not pay anything on revenues.
Brazil’s minister of Agriculture, Livestock and Supply, Mendes Ribeiro Filho, said that the measures would help reduce production costs for the pork and poultry industries, which are struggling with high feed prices and other input costs.
