Temporary reduction in the tax rate of value added tax, from 21% to 19%

Decree Nº 2312/2002, issued by the Federal Government, published in the Official Gazette on November 15, 2002, established a temporary reduction in the tax rate of Value Added Tax, from 21% to 19%. The reduction will be temporary and will be applied to taxable events occurring between November 18, 2002 and January 17, 2003.