Copying and distributing are prohibited without permission of the publisher
Tax legislation changes in Brazil will increase costs for Hydro
January 30, 2014 - 04:59 GMT
Changes in tax legislations by Brazil’s Pará state will increase costs for Norsk Hydro’s alumina and bauxite business and the company is “concerned” by the sudden decision.
Following a decision by the Brazilian state, Hydro will be
subjected to an increased cost of approximately BRL 60 million
($25 million) per quarter, which will be charged to the
company’s bauxite and alumina business area, it
said on Wednesday January 29. Hydro’s Alunorte
refinery is located in the state. The rise in cost stems from
Pará’s decision to change the collection
point of the ICMS tax, levied on...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to a premium subscription and benefit from more than 17 years of intelligence plus access to MB Company Data.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.