Brazil wins part of WTO appeal against stimulus programme

Brazil wins part of WTO appeal against stimulus programme

GENEVA (Reuters) - Brazil won part of its appeal at the World Trade Organization on Thursday in a dispute over its industrial stimulus programmes, successfully challenging an earlier ruling that had faulted tax breaks for predominantly exporting companies and capital goods.

Most of the earlier ruling, in the case brought by Japan and the European Union, was upheld. But the WTO Appellate Body ruling, which is final, also withdrew a requirement for Brazil to remove some of the programmes within 90 days, instead saying it must do so without delay.

(Reporting by Tom Miles, editing by Stephanie Nebehay)

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Updated Date: Dec 14, 2018 00:07:39 IST

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