Tax breaks targets fresh telecoms investment in Brazil
Brazil’s government has introduced new tax exemptions in order to attract investment in the construction of fibre-optic cable networks across the country.
According to Reuters, the government has said it is willing to forfeit approximately $2.5 billion in tax through the measure in order to attract investment of $70 billion in its telecoms sector.
The government is in particular targeting companies willing to construct fibre-optic cable networks in remote areas of the country. Brazil is extending the availability of high-speed internet through its National Broadband Plan. The programme aims to accelerate economic and social development, increase digital presence and create more affordable broadband services.
The move comes as the country continues to prepare infrastructure ahead of both the 2014 World Cup and 2016 Olympics.
A full country profile of Brazil will feature in the September edition of Capacity magazine and will appear online later this month.