Brazilian Senate approves bill to introduce tax credit on imports of PV production equipment

The Brazilian Senate has approved a bill that will introduce a tax credit on the imports of PV production equipment and raw materials for the manufacturing of PV components.
 
According to local newspaper O Povo, the law (PLC) 21/2015 will now have to be signed by the country’s president Dilma Roussef. The new law will exempt the imports of PV materials and production equipment from the ICMS, the national sales tax. According to Rodrigo Suaia, the president of local solar association Associação Brasileira de Energia Solar Fotovoltaica (ABSOLAR), this measure will create the conditions for the development of a PV industry in Brazil.