São Paulo – Brazil’s Foreign Trade Chamber (Camex), the federal government’s policymaking organization, has lowered the Import Tax for 157 products to 2%, in the condition of tariff exception. The ruling was announced this Tuesday (14th) in the Official Gazette.
According to information from the Brazilian Ministry of Development, Industry and Foreign Trade, to which the Camex is connected, the list comprises 147 capital goods, of which 130 are newly benefited items, and 17 are renewals, in addition to 10 computing and telecom items.
Companies which need to import these items for their own projects apply for the tax break. The tariff exception system allows for the temporary lowering of the Import Tax on capital goods, computing and telecommunications products that are not manufactured in Brazil.
The industries covered by the tax break include auto parts, railway industry, services, oil, telecmo, and pulp and paper. The products on the list are imported chiefly from the United States, China, Singapore, Germany and Italy, according to the ministry.
Camex’ rulings 33 and 34, which address the matter, are available in the online edition of the Official Gazette, in pages 1 through 8, at http://www.in.gov.br/visualiza/index.jsp?data=14/05/2013&jornal=1&pagina=1&totalArquivos=64 (in Portuguese).
According to the ministry, 1,282 items have been included in the tariff exception regime so far this year.
*Translated by Gabriel Pomerancblum
