Mining Is Under a ‘Tax Attack’ in Brazil, Industry Group Warns

Brazil’s mining industry warns that a much heavier tax burden from new state and municipal payments threatens to erode competitiveness and drive away investments.

“We’re under a tax attack,” Raul Jungmann, president of the Brazilian Mining Institute, told reporters Wednesday.

Last year, the sector paid 2.5 billion reais ($522,000) in new state taxes. If those fees spread to other states and municipalities, the figure would reach 6.3 billion reais, according to the institute, known as Ibram.

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