The Special Secretariat of Foreign Trade and International Affairs of the Brazilian Ministry of Economy announced in August 2019 the reduction of the rates of Import Tax on capital goods, informatics, and telecommunications. The category encompasses several machines, equipment, and technology for the Brazilian industry. The idea of the Brazilian Federal Government is to facilitate the importation of machinery and equipment that do not have similar production in Brazil, and thus make the investment less expensive for those who wish to import them.
The new measure has a temporary limitation. According to article 1, until December 31, 2021, the ad valorem rates of Import Tax on the following items are changed to zero percent. Some of the items are Industrial machinery, hydraulic and volumetric pumps, motors of various specificities, industrial furnaces, industrial dryers, water treatment equipment, cranes, medical equipment, apparatus for industrial use, for manufacturing facilities and for the provision of services.
According to the Ministry of Economy, the ex-tariff regime consists of the temporary reduction of the tax rate of importation of capital goods, informatics and telecommunication, thus written in the Common External Tariff of the MERCOSUL. To see the full listing, and see if your product fits, click here.
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This posting is not intended as and should not be construed as legal or accounting advice. CCBRALUX is not responsible for any damages of any kind resulting from the use of this information.