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Brazil to offer tax exemption to recycled products
(Xinhua)
Updated: 2009-10-16 11:26

BRASILIA: Brazil has decided to offer tax exemption to recycling-related products to achieve a sustainable economy, Environment Minister Carlos Minc announced on Thursday.

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"I've been discussing this measure for a long time with Minister (of Finance) Guido Mantega... It is fundamental because without economic mechanisms (credit, interest and taxes), we would be idealists," he said.

The minister made the announcement when attending the launching ceremony of a campaign aimed at encouraging people to use reusable bags instead of plastic ones.

"The environment and climate issues would improve when they become part of the real economy," the minister said.

The official announcement on the tax cut for recycled products is scheduled to be made by President Luiz Inacio Lula da Silva on October 29.