São Paulo – The Foreign Trade Board (Camex), a Brazilian organisation responsible for policies for the sector, announced on Monday (3) the reduction of import tax on a series of products to avoid shortages on the domestic market.
Among the tax breaks included is a reduction on the import tax levied on terephthalic acid, or PTA, an input used in the production of plastic resin. The tax levied on the product was reduced from 12% to 0% for the period of 90 days. The benefit is valid for imports of 42,000 tonnes. Brazil imported the equivalent to US$ 460 million of the product from January to October this year.
Another item whose tax was reduced was caprolactam, raw material for production of nylon, whose tax was reduced from 12% to 2% for 180 days, with an import ceiling of 26,000 tonnes. Brazilian imports of the product totalled US$ 55 million from January to October 2012.
Camex also zeroed the import tax on blood products like serum albumin and others, items used in the treatment of haemophiliacs.
The reductions are included in Camex resolutions 84, 85 and 86, published don Monday in the Official Gazette. The full text may be viewed, in Portuguese, on link
http://www.in.gov.br/visualiza/index.jsp?jornal=1&pagina=10&data=03/12/2012.
*Translated by Mark Ament
