São Paulo – This Monday (8th), the Foreign Trade Chamber (Camex), which is the Brazilian government’s foreign trade policymaking branch, announced that it has lowered the import tax on various products to prevent the domestic market from being undersupplied.
Products include methanol, or methyl alcohol, whose 12% tax has been lifted for a 180 days, up to a maximum quota of 580,000 tonnes. The product has several industrial uses, and last year Brazil imported US$ 248 million worth of it. In January and February 2013, imports reached US$ 52.33 million, according to data from the Brazilian Ministry of Development, Industry and Foreign Trade.
The import tax has also been reduced on lactose powder, silicone gel, and aluminium cans for capacitors. The tax has been set at 2% for a 12-month period. Lactose is extracted from milk serum and is used in the manufacturing of baby formula. Silicone gel is used in prosthetics manufacturing. Aluminium cans are used in the making of electrical installation equipment.
The Camex has also raised the for imports of anatase-type titanium oxide, at a lowered rate of 2%, from 6,000 to 8,000 tonnes, in effect until September 3rd. The item is used in synthetic fibre production.
*Translated by Gabriel Pomerancblum
