Substitute Program for Minha Casa Minha Vida Expected to Strengthen Construction Industry in the North and Northeast

Written by Valdemar Medeiros

Published on 17/01/2021 at 09:23

Trabalhadores da construção civil

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In Addition to Strengthening the Construction Industry, the New Federal Government Program That Replaces Minha Casa Minha Vida Should Offer Lower Interest Rates for Families in the Two Largest Regions of Brazil

The Federal Government announced this week that the Minha Casa Minha Vida program has been definitively replaced by the Casa Verde e Amarela program. With this change, the construction industry is expected to strengthen in the North-Northeast regions, where these housing complexes are largely built, in addition to a decrease in interest rates for the regions. However, President Jair Messias Bolsonaro vetoed the provision that extended to the new program the tax regime applicable to construction companies that are subject to the Minha Casa Minha Vida rules, which left the sector frustrated.

The President of the Construction Industry Union of the State of Ceará (Sinduscon-CE), Patriolino Dias Spoke on Behalf of the Union:

“We are very optimistic about this program that replaces Minha Casa Minha Vida, but we regret the removal of the RET (Special Tax Regime). We are closely monitoring this, but I believe the program will take off”

The tax regime already provides for a unified collection of taxes that equates to about 4% of the monthly revenue collected under the construction contract.

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For the Vice President of the Federation of Industries of the State of Ceará (Fiec), André Montenegro, Bolsonaro’s Veto on the Replacement of Minha Casa Minha Vida Was What He Called a “Negative Surprise”

“A high-end apartment pays 4% tax and a low-income house will now pay 6.7%, which is very detrimental to the program. Now we have to mobilize to overturn this”, Montenegro reported.

This matter was published in the Wednesday (13) edition of the Official Gazette of the Union. After publication, lawmakers need to decide whether or not to maintain the presidential veto decision in a session with Congress. To reject the veto, a considerable number of votes from deputies and senators is necessary.

Substitute Program for Minha Casa Minha Vida Expected to Strengthen Construction Industry in the North and Northeast

In Addition to Strengthening the Construction Industry, the New Federal Government Program That Replaces Minha Casa Minha Vida Should Offer Lower Interest Rates for Families in the Two Largest Regions of Brazil

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Substitute Program for Minha Casa Minha Vida Expected to Strengthen Construction Industry in the North and Northeast

In Addition to Strengthening the Construction Industry, the New Federal Government Program That Replaces Minha Casa Minha Vida Should Offer Lower Interest Rates for Families in the Two Largest Regions of Brazil

Read Also

The President of the Construction Industry Union of the State of Ceará (Sinduscon-CE), Patriolino Dias Spoke on Behalf of the Union:

For the Vice President of the Federation of Industries of the State of Ceará (Fiec), André Montenegro, Bolsonaro’s Veto on the Replacement of Minha Casa Minha Vida Was What He Called a “Negative Surprise”

Gaddafi built the world’s largest artificial river under the Sahara — it’s 4,000 km of giant pipes that pump 40,000-year-old fossil water to entire cities in Libya.

Discovery in Africa scares even scientists: a study published on April 23 reveals that the crust in Turkana has become so thin that it could pave the way for the continent’s division and the emergence of an ocean in the future, in a gigantic geological transformation.

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In 1991, Brazil’s GDP was almost double India’s, and today it is little more than half: while India grew 6.5% per year and trained engineers, Brazil preferred to train lawyers, and now it is rushing to strengthen ties with the world’s fourth-largest economy.

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