Brazil tax law revisions to lift Norsk Hydro’s costs

Jan 30, 2014 | 12:20 PM | Carolina Guerra

Tags  Norsk Hydro, ICMS tax, alumina, aluminum, bauxite, Johnny Undeli, Carolina Guerra

SÃO PAULO — New tax laws in Brazil’s Pará state will increase costs for Norsk Hydro ASA’s alumina and bauxite business by about 60 million real ($24.8 million) per quarter, the company said Jan. 29.

The increase stems from Pará’s decision to change its collection point of the ICMS tax, which is levied on goods and services and collected by Brazilian states, on fuel oil purchases.....

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