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Brazil grants permanent exemption from equipment import tax to theme parks

Wednesday, October 30, 2019

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Theme and water parks in Brazil have just gained permanent exemption from equipment import tax for ventures in the country. The measure was approved unanimously at the plenary meeting of the Mercosur Technical Committee, and was published in the Federal Official Gazette on Oct 24.

 

The initiative was being addressed by the Integrated Parks and Tourist Attractions System (Sindepat) and was supported by the Minister of Tourism, Marcelo Álvaro Antônio.

 

The sector generates more than R $ 3 billion a year in Brazil, receives 30 million visitors, generates more than 15,000 direct jobs and 100,000 indirect jobs. With the news, the numbers are expected to grow even more.

 

The import tax was one of the bottlenecks that prevented the best development of parks in the country. The parks and attractions sector is a booming market worldwide.

 

According to a study, in 2018, the total number of visitors to the world’s largest parks for the first time exceeded half a billion entries. The number is almost 7% of the world’s population. According to the index, just five years ago, the number of visits to the global population was 5%. The year was favorable for theme entertainment in most regions of the world – the segment grew at least 4% in all major markets.

 

Minister of Tourism, Marcelo Alvaro Antônio, who from the outset understood and embraced the industry’s claim, stressed the importance of the initiative for entrepreneurs, who will be able to take advantage and contribute even more to the increase of tourism in their regions. For him, the tax exemption will enable the attractiveness of ventures in operation and the opportunity to open new ones.

 

“Our parks are already one of the top Latin American destinations. They are economic anchors where they are installed, inducing development and generating jobs and income for the population,” he said.

 

The president of SINDEPAT, Murilo Pascoal, explained that this was a great fight for the sector and its achievement will mean a turning point in the history of parks and tourist attractions in the country, stimulating investments, renovation and the emergence of new facilities.

 

“We have believed in Brazil as the next frontier of park development. But for that to happen, it was essential to rely on change,” he said. “The tax amounted to more than double the value of equipment and this blocked for many years the development in Brazil of the family entertainment sector, one of the busiest leisure travel around the world,” he said.

 

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