The government has reduced or lifted tariffs on items including cancer drugs, wind turbine blades, tires, and pesticides.
Browsing: import tax
The Egyptian government announced a six-month exemption of import tariffs on products such as poultry, dairy, offal, teas and oils. The measure aims to help the country offer lower prices to its population and could boost Brazilian exports.
The Brazilian government raised the import tariff from 3.8% to 10.8% for 24 months to stimulate the local industry.
Brazil’s president Jair Bolsonaro announced a cut in import tax rates from 16% to 12% on video games, consoles and accessories starting in July.
The Arab country increased the import tariffs on a range of products on Sunday (12), including vegetables, sheep, goats and fish.
A decree by the Brazilian federal government withdrew wharfage fees levied on movements inside ports from import tariff calculations. The goal is to make purchases of imported products more affordable.
Import tariffs on food items like rice, beans and biscuits as well as construction materials will be reduced by 10%, aiming to curb inflation.
The Brazilian government will allow coffee, margarine, cheese, pasta, sugar, soy oil, and ethanol to enter the country tax-free. The new policy could help contain inflation.
A set of aeronautical sector equipment can enter the Brazilian market without import tariffs since March 2.
The reduction comes into force next year for 12 products that are not manufactured in the country.
So far, 177 items have been made tax exempt in Brazil. Newly added products include zinc, vitamin D, and inputs for the manufacturing of respirators and lung ventilators.
To help fight COVID-19, the measure announced last Wednesday by the Ministry of Economy of Brazil includes 61 products, such as test kits for coronavirus, and pharmaceutical, medical and hospital equipment and apparatus.
The Ministry of Economy has increased the list of tax-free machinery and equipment items, in a bid to render them more accessible to companies.
A study from Brazil’s Institute for Applied Economic Research (Ipea) shows that Brazilians spend an additional USD 34 billion per year on goods and services as a consequence of tax barriers.
