Brasília – Brazil’s trade authority Camex, affiliated with the Ministry of Economy, slashed to 2% the import tariffs on 12 auto part products that are not domestically manufactured. The measure comes into force on January 1st, 2022.
The Ministry of Economy says the reduction was reduction was adopted due to litigations on the inclusion of products made available in public consultation where an equivalent production capacity was not found. The average rate of these 12 products used to be 16%.
The decision also revokes previous acts that used to address the auto part regimen, thus establishing in a single normative act the list of products to have their tax imports slashed to 2%.
According to the government, they amount to 3,682 products, with 3,420 on the list of auto parts for production and 262 on the list of auto parts deemed capital goods or informatics and telecommunication goods.
Translated by Guilherme Miranda
