São Paulo – Last Friday, bids started being accepted for temporary increases in the Import Tax, according a statement issued by the Brazilian Ministry of Development, Industry and Foreign Trade. The measure is based on a ruling of the Mercosur, which provides for a flexible Common External Tariff (TEC, in the Portuguese acronym) on up to 100 products whose sales are imbalanced as a result of the world economic conjuncture.
Requests may be submitted up until April 2nd, comprising a duly filled form of the Executive Secretariat of the Foreign Trade Chamber (Camex), the bidder’s data, and product data. The bids will be reviewed by the Technical Group on Temporary Changes in the Mercosur Common External Tariff (GTAT-TEC). The group is presided over by the Camex and comprises representatives of ministries such as Development, Industry and Foreign Trade, Foreign Relations, Finance, Agriculture, Planning and others.
*Translated by Gabriel Pomerancblum
