São Paulo – Hybrid vehicles fuelled by electrical power and combustion engines will benefit from an import tax reduction from 35% to rates ranging from 0% to 7%. According to information from the Brazilian Ministry of Development, Industry and Foreign Trade, the ruling issued this Friday (19th) is based on a decision from the council of ministers of the Foreign Trade Chamber (Camex, in the Portuguese acronym). The ruling is still pending publication on the Federal Official Gazette.
According to the ministry, the tax break applies to vehicles fuelled by combustion engines supported by an electrical or pneumatic traction system with no external recharge system. The measure covers vehicles with capacity for up to six seated passengers, with engine sizes ranging from 1 to 3 litres.
The import tax, formerly at 35%, will drop to 0%, 2%, 4%, 5% and 7%. The tax rate will hinge of each vehicle’s energy efficiency and will remain in place until December 31st, 2015.
This Friday, the Camex’s ministerial council has also lowered the tax for road tractors imports from 35% to 0% and from 6% to 0% for imports of diammonium hydrogen phosphate, which is used in fertilizer manufacturing.
*Translated by Gabriel Pomerancblum
