São Paulo – The Brazilian Ministry of Development, Industry and Foreign Trade has announced this Tuesday (26th) that the import tax on five chemicals used in industrial production has been lowered to 2%.
The tax break will remain in force for a 12-month period, as per a ruling of the Foreign Trade Chamber (Camex), an organization linked to the ministry. The original tax rates on the items ranged from 10% to 14%. The reason for the measure, according to the ministry, is an ongoing undersupply on the Brazilian market.
The list includes Dinitro, registered under number 2904.90.14 of the Mercosur Common Nomenclature (NCM), for a quota of 3,600 tonnes; Monomethylamine (NCM 2921.11.11, for a quota of 60 tonnes), Monoethylamine and its salts (NCM 2921.19.11, for a quota of 738 tonnes); Di-n-propylamine (2921.19.22, quota of 1,205 tonnes); and anatase-type titanium oxide (NCM 2823.00.10, quota of 8,000 tonnes).
The four former products are used in the synthesis of agricultural chemicals, and the latter is used in synthetic textile yarn manufacturing.
*Translated by Gabriel Pomerancblum
