Brazil may waive taxes levied on the nation's ports as a way to stimulate investment in the dilapidated transport sector, the Development and Trade Minister Luiz Fernando Furlan said.
"We are proposing an investment program for ports and airports with exemption from taxes," Furlan said late Monday at a seminar on metals in Sao Paulo. "We would stimulate investment activities by granting a total suspension in taxes."
Furlan said the proposal was awaiting authorisation from Finance Minister Antonio Palocci, but he gave no further details on how or what taxes would be waived for investments in Brazil's ports.
In a separate proposal, Furlan said the government was considering waiving all customs duties on capital goods, which would include items such as ship loaders and other heavy machinery imported to aid Brazil's export sector.
SUGAR VESSELS LINEUP JUMPS: The line-up of vessels to load sugar in Brazil's ports increased to 54 from 45 last week, shipping agent Williams said on Thursday.
Brazil's main center-south sugarcane region is in the midst of a rain-plagued harvest.
In a weekly report, Williams said 36 vessels were lined up in the southern port of Santos, up from 28 last week. At Paranagua there were eight ships, up from five last week, and at Vitoria there were four, down from five last week.
Santos accounted for 72 percent of sugar tonnage being loaded in Brazil's ports, Paranagua garnered 14 percent and Vitoria 6 percent.