São Paulo – This Thursday (5th), the Foreign Trade Chamber (Camex) announced that it has lowered the import tax on terephthalic acid (PTA) and its salts, and on thick carbon steel sheets. The objective, according to the Brazilian Ministry of Development, Industry and Foreign Trade, is to prevent an undersupply of these two products in the Brazilian market.
According to the ministry, PTA (NCM 2917.36.00) is the main raw material for manufacturing plastic PET resin, and is also used for making polyester fibres, a material used in the textile, clothing and auto industries. The tax will be lifted up until July 31. Tax-exempt imports are limited to a quota of 75,000 tonnes.
The ministry has also informed that the thick carbon steel sheets (NCM 7208.51.00) are used for making underwater gas piping, which in turn is used in oil well construction. The tax has been lowered to 2% for 180 days, whereas imports are limited to a quota of 145,000 tonnes.
*Translated by Gabriel Pomerancblum
