# Law No. 4970 of May 11, 1966

> Brazilian law

**Wikidata**: [Q105647585](https://www.wikidata.org/wiki/Q105647585)  
**Source**: https://4ort.xyz/entity/law-no-4970-of-may-11-1966

## Summary
Law No. 4970 of May 11, 1966, is a Brazilian statute that exempts cotton yarn manufacturing equipment from import and consumption taxes, specifically for installation in a cotton yarn factory in Paraná. It was approved by the Presidency of the Federative Republic of Brazil and published in Brasília on the same date. This law was part of Brazil's broader economic and industrial policies during that period.

## Key Facts
- **Title:** Lei nº 4970, de 11 de maio de 1966
- **Aliases:** Law No. 4970 of May 11, 1966
- **Country:** Brazil
- **Law Digest:** Exempts import and consumption taxes on equipment for a cotton yarn factory in Paraná
- **Approved By:** Presidency of the Federative Republic of Brazil, promulgated on May 11, 1966
- **Instance Of:** Statute
- **Main Subjects:** Import tax, Paraná, consumption tax, tax exemption
- **LexML Brazil ID:** urn:lex:br:federal:lei:1966-05-11;4970
- **Publication Date:** May 11, 1966
- **Place of Publication:** Brasília
- **Work Available At URL:** https://www.planalto.gov.br/ccivil_03/leis/1950-1969/l4970.htm
- **Applies to Jurisdiction:** Brazil
- **Language of Work:** Brazilian Portuguese
- **Legal Citation:** Lei nº 4970/1966
- **Wikidata Description:** Brazilian law

## FAQs
**What was the purpose of Law No. 4970 of May 11, 1966?**
The law exempted import and consumption taxes on equipment intended for the installation of a cotton yarn factory in Paraná, Brazil. This was part of broader economic incentives to support industrial development in the region.

**Who approved Law No. 4970?**
The law was approved by the Presidency of the Federative Republic of Brazil and promulgated on May 11, 1966.

**Where was Law No. 4970 published?**
The law was published in Brasília, Brazil, on May 11, 1966.

**What taxes were exempted under Law No. 4970?**
The law exempted import and consumption taxes on equipment for a cotton yarn factory in Paraná.

**How can I access the full text of Law No. 4970?**
The full text of the law is available at https://www.planalto.gov.br/ccivil_03/leis/1950-1969/l4970.htm.

## Why It Matters
Law No. 4970 of May 11, 1966, played a significant role in Brazil's industrial and economic development by providing tax incentives for the establishment of a cotton yarn factory in Paraná. By exempting import and consumption taxes on necessary equipment, the law facilitated the growth of the textile industry in the region, contributing to local economic diversification and job creation. This legislation was part of a broader effort to support industrialization and reduce barriers to entry for new manufacturing ventures in Brazil during that period.

## Notable For
- **Tax Exemption:** Provided a unique exemption from import and consumption taxes for cotton yarn manufacturing equipment
- **Industrial Support:** Contributed to the development of the textile industry in Paraná
- **Economic Policy:** Demonstrated Brazil's commitment to supporting industrial growth through fiscal incentives
- **Historical Significance:** Represents a specific legal measure taken during Brazil's industrialization efforts in the 1960s

## Body

### Definition and Scope
Law No. 4970 of May 11, 1966, is a statute enacted by the Brazilian government to exempt import and consumption taxes on equipment intended for the installation of a cotton yarn factory in Paraná. It is classified as a formal written document that creates law, specifically a federal law in Brazil.

### Legal Context
The law was approved by the Presidency of the Federative Republic of Brazil and published in Brasília on May 11, 1966. It is part of Brazil's legislative framework and applies to the jurisdiction of Brazil. The law is available in Brazilian Portuguese and can be accessed through official government sources.

### Tax Exemptions
The primary purpose of the law was to exempt import and consumption taxes on equipment for a cotton yarn factory in Paraná. This exemption was intended to support the industrial development of the region by reducing the financial burden on new manufacturing ventures.

### Historical Significance
Law No. 4970 is notable for its role in facilitating industrial growth in Paraná during the 1960s. It reflects Brazil's efforts to promote economic development through fiscal incentives and tax exemptions for specific industries.

### Accessibility
The full text of the law is available online at https://www.planalto.gov.br/ccivil_03/leis/1950-1969/l4970.htm, ensuring public access to the legal document. The law is also referenced in the LexML Brazil database under the identifier urn:lex:br:federal:lei:1966-05-11;4970.

### Related Entities
The law is connected to the concept of statutes, which are formal written documents that create law. It is also related to the broader context of Brazilian economic policies and industrial development in the 1960s. The law's main subjects include import tax, Paraná, consumption tax, and tax exemption.

## References

1. [Source](https://www.lexml.gov.br/urn/urn:lex:br:federal:lei:1966-05-11;4970)
2. [Source](https://legislacao.presidencia.gov.br/atos?tipo=LEI&numero=4970&ano=1966&data=11/05/1966&ato=b04gXQE9EMZRVT4a0)
3. LexML Brasil