Brazil has eliminated a tax on foreign purchases on cross-border e-commerce platforms worth up to $50, likely benefiting lower-income Brazilians.
The government did not specify the size of the revenue loss from the step.
It had earlier defended the tax, saying foreign e-commerce firms were selling products without facing the same tax burden as companies within Brazil, creating ‘unfair competition’.
The government did not specify the size of the revenue loss from the step.
It had earlier defended the tax, saying foreign e-commerce firms were selling products without facing the same tax burden as companies within Brazil, creating ‘unfair competition’.
