Brazil backs down from sugar tax plan -report
Reuters Africa
Fri Apr 22, 2011 4:20pm GMT
- Brazil shelves plan to tax sugar exports -report
- Decided move would risk its share of global market
RIO DE JANEIRO, April 22 (Reuters) - Brazil has backed down from plans to tax sugar exports as a way to boost the supply of ethanol fuel on the domestic market, a newspaper reported on Friday.
The Estado de Sao Paulo newspaper, quoting an unidentified government source, said the government of President Dilma Rousseff has "practically buried" proposals on taxing the key export in the face of criticism from the sugar industry and doubts over its effectiveness.
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