In a ruling published on Wednesday 30 August, the panel of the WTO's dispute settlement body, which was responsible for assessing complaints from the EU and Japan about Brazil's tax regime favouring its national industry in the ICT, electronics and automotive sectors, largely agreed with the complainants.
The EU and Japan criticised Brazil for introducing over recent years selective tax exemptions or tax reliefs for goods produced in its free trade areas and for its exporters, with both...