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Exemption from ISS taxation

Pursuant to Chapter XI of Decree No 53,151/2012, Brazil applies exemption from ISS taxation to the following:

1. Ìý

   •ÌýÌýÌýÌý Collective passenger transport (article 143): services rendered by companies that have been granted, by the Municipal Public Transport Department of the Municipality of São Paulo, terms of permission to operate the collective passenger transport service, by bus, in the Municipality, as well as the companies hired for the same service.

2. Ìý

   •ÌýÌýÌýÌý Economic housing (article 144): the construction and renovation of economic housing, which is defined to be:

3. Ìý
   1. Ìý

      –ÌýÌýÌýÌý single-family, not part of a grouping;

   2. Ìý

      –ÌýÌýÌýÌý intended exclusively for the residence of the interested party or their family; and

   3. Ìý

      –ÌýÌýÌýÌý with an area not exceeding 70m².

4. Ìý

   •ÌýÌýÌýÌý Social interest housing (article 145): the provision of the following services, when intended for works classified as housing of social interest and included in the 'my house, my life' house-building programme in Brazil ('Programa Minha Casa, Minha Vida' (PMCMV)):

5. Ìý
   1. Ìý

      –ÌýÌýÌýÌý Civil, hydraulic