LatinNews Daily - 14 December 2018

* The World Trade Organization’s (WTO) Appellate Court has ruled that Brazil’s tax benefits measures in the automotive and information and communication technology (ICT) sectors are illegal under WTO rules. This re-affirms the findings of a WTO panel presented in 2017, which Brazil had appealed, in relation to cases brought before the WTO by the European Union (EU) in 2013 and by Japan in 2015. The panel found that Brazil’s tax programmes granted prohibited import and export subsidies to Brazilian companies in the automotive and ICT sectors, discriminating against non-Brazilian products. The WTO’s Appellate Court recommends that Brazil bring its measures into conformity with WTO rules in the briefest delay possible. Brazil has now exhausted all avenues for appeal.   

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