São Paulo – The Brazilian Chamber of Foreign Trade (Camex), a body of the Brazilian government responsible for the sector’s policies, decided to reduce the Importation Tax over clad – that is, two-layered – aluminum sheets and foils with a thickness of 0.2 mm or under, “clad” being the thin layer that covers the base alloy.
The product code in the Mercosur Common Nomenclature (MCN) is 7607.11.90. The decision was published this Thursday (15) in the Brazilian Official Gazette. The reason for the measure is the supply shortage in the domestic market.
The tax rate will be reduced from 12% to 2% on the 31st of this month and will remain that way for a six-month period and limited to a quota of 2,137 tons. Actually, the measure is being renewed since the same benefit had already been granted in July 31st of last year, also for a six-month period, but limited to a quota of 563 tons.
The product, according to information from the Ministry of Development, Industry and Foreign Trade (MDIC), is a resource used in the manufacturing of condensers, radiators and air conditioning compressors for vehicles.
*Translated by Sérgio Kakitani
