São Paulo – The Chamber of Foreign Trade (Camex), a Brazilian government’s body that is responsible for the sector’s policies, approved the reduction of import taxes of 654 goods that are not produced in Brazil. Both resolutions were issued this Friday (19) on the Federal Official Gazette of Brazil.
According to information from the Ministry of Development, Industry and Foreign Trade (MDIC), to which Camex is linked, the resolution 118 reduces from 14% to 2% the tax rate of 636 capital goods, with 291 of these items being first-timers on the list of cuts and 345 being renewals. The measure expires on June 30, 2016.
While the resolution nº 117 reduces from 16% to 2% the tax rate of 18 IT and telecommunications items, with six being first-timers and 12 renewals. The benefit ends of December 31, 2015.
The products were included in the ex-fare policy, which allows the temporary reduction of import rates of capital goods, IT and telecommunications items without domestic production.
According to MDIC, the sectors that will be favored by the measures are construction, telecommunications, capital goods, railway, beverages and auto parts. The goods included will be imported mainly from the US, China, Denmark, Italy and Germany.
You can access the measures’ text in the links below:
http://pesquisa.in.gov.br/imprensa/jsp/visualiza/index.jsp?data=19/12/2014&jornal=1&pagina=11&totalArquivos=432
http://pesquisa.in.gov.br/imprensa/jsp/visualiza/index.jsp?data=19/12/2014&jornal=1&pagina=10&totalArquivos=432
*Translated by Sérgio Kakitani
