GOVERNMENT ZEROES IMPORT TAX ON COVID-19 VACCINES

On September 17, the Executive Management Committee of the Ministry of Economy’s Chamber of Foreign Trade (CAMEX) published a resolution in the federal register temporarily reducing to zero the import tax rate on COVID-19 vaccines and other products related to the fight against the new coronavirus. According to the resolution, the objective is to “facilitate the fight against the pandemic”.

In March 2020, a resolution exempted taxes on COVID-19-related products until September 30. A new resolution published on September 17 extends the exemption until October 30, 2020. The new term also applies to products included in the last exemption list.

According to the Ministry of Economy, 11 resolutions have already passed since March of this year to zero out import tariffs on 562 products used to combat the pandemic. The list includes both medicines and medical and hospital products, as well as supplies and components and accessories used in the manufacture and operation of items used during the new coronavirus pandemic.

The list of import tax published on the 17^th includes COVID-19 vaccines and inputs for the national manufacture of items used in nutritional supplements and in the treatment of patients affected by the virus. Inclusion was made at the request of the Ministry of Health.

According to the Ministry of Economy, the inclusion of anti-COVID-19 vaccines will be done using a comprehensive Mercosur Common Nomenclature (NCM) descriptive for the type and presentation, as the types of vaccines that will arrive in the Brazilian market have not yet been defined.

Source: Agência Brasil

Sharing is caring!