Lula Exempts International Purchases from Federal Taxes

Brazil's President Luiz Inacio Lula da Silva took a decisive step on Tuesday by signing an executive order that abolishes federal taxes on all international purchases valued at up to $50.

This move marks a reversal of a previous levy imposed in 2024, which had faced widespread public disapproval.

The decision comes in the crucial backdrop of Lula gearing up for the re-election campaign set for October, likely aimed at swaying public sentiment in his favor.

(With inputs from agencies.)