Bloomberg News

Brazil May Cut Taxes to Lure Telecom Investment, Bernardo Says

August 30, 2011

Aug. 30 (Bloomberg) -- Brazil’s government may cut 4 billion reais ($2.5 billion) in taxes for companies building fiber-optic networks to expand telephone, cable television and Internet services, Communications Minister Paulo Bernardo said.

Bernardo, in an interview, said he will meet with Finance Minister Guido Mantega today to discuss the possible tax cuts, which are part of a plan to attract investment to Brazil’s telecommunications market.

“It’s important to speed up investments,” Bernardo said in an interview in Brasilia today. “I think it needs to start in September.”

The tax cuts for the purchase of telecommunications equipment could amount up to 4 billion reais by 2014, Bernardo said.

To contact the reporter on this story: Maria Luiza Rabello in Brasilia Newsroom at mrabello@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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