Bill suspends resolution cutting import tax on capital goods and telecommunications

Draft legislative decree 124/21 suspends a resolution of the Executive Management Committee of the Chamber of Foreign Trade (CAMEX) that reduced the import tax rate (II) on capital goods and information technology and telecommunications. The text is being processed in the Chamber of Deputies.

The GECEX Resolution 173/21  has been in force since March of this year and provides for a 10% cut in the different ranges of the Common External Tariff (TEC) practiced in Mercosur. An attachment lists the goods subject to the new rates, which range from 0% to 14.4%. In most of them, the reduction is from 14% to 12.6%.

“Although the Executive Power has the power to change the rates of the Import Tax, it cannot do it freely and unimpeded, contrary to the legislation”, said the author, deputy Marcelo Ramos (PL-AM).

“For these rates applicable to capital goods and information technology and telecommunications to be legally reduced to levels other than the TEC, it is necessary to have specific authorization from the decision-making bodies of Mercosur, which only occurs exceptionally,” explained the congressman.

Source: Chamber Agency

To read the full original article, visit the link:

https://www.camara.leg.br/noticias/785929-proposta-susta-resolucao-que-corta-imposto-sobre-importacao-de-bens-de-capital-e-telecomunicacoes

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