São Paulo – The Foreign Trade Chamber (Camex), an organization of the Brazilian federation government, announced this Wednesday (16th) that zero tariff cotton imports have been extended to trading companies. Thus far, the exemption, which has been in effect since September last year, only applied to textile industries.
The ruling of the Camex concerns import statements issued up until May 31st this year, and applies to quotas of up to 250,000 tonnes, according to the press office at the Brazilian Ministry of Development, Industry and Foreign Trade, to which the Camex is attached.
The Camex has also announced a reduction in the tax on imports of coal for electric batteries and vinyl acetate, from 12% to 2%. The decision, according to the organization, was made because these items are not manufactured in the Mercosur, an economic bloc comprising Brazil, Argentina, Paraguay and Uruguay. Vinyl acetate is used in the manufacturing of paint and synthetic fibre.
The organization has also announced the approval of 253 ex-tariff items, i.e., a temporary lowering, down to 2%, of import taxes on capital goods, computer items and telecommunications items, up until June 30th of next year.
On the other hand, the Camex adopted a ruling of the Mercosur that raises the import tax on peaches from 14% to 35% from April 1st to December 31st this year, "aiming to safeguard the sector, which is key to job generation in rural areas."
*Translated by Gabriel Pomerancblum