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Preferences in the acquisition of brazilian products and services in public biddings
The Brazilian Government has recently enacted new regulations for public biddings setting forth margins of preference for Brazilian manufactured products and services rendered in Brazil. The purpose of such regulation is to promote national development by creating an incentive to suppliers and service providers to perform its business activities in Brazil, creating here, and not abroad, employment, income, industrial development, tax revenues, among others benefits.
The margins of preference are concessions established in percentages that once applied over the price of certain products and services, will authorize the Government to (i) hire the ones manufactured/supplied in Brazil; and, (ii) disregard its foreign counterparts offered at lower prices.