Ministry of Economy clears import tax of 147 more products not produced in Brazil

Starting this Thursday (10/03), the Special Secretariat of Foreign Trade and International Affairs of the Ministry of Economy (Secint/ME) zeroed the rates for foreign purchases of 147 industrial machinery and equipment, computer goods, and telecommunications that are not produced in Brazil. There are 136 capital goods and 11 computer and telecommunication goods in total, mainly used in the food, medicine, plastics, ceramics, metals, wood, and stamping industries.

The ordinances that cleared the tariffs were published in the Official Gazette of last Monday (10/1) and took effect on Thursday. Tax rates, which reached up to 16%, will be reduced to zero by December 2021.

Secint Ordinance No. 3,533, based on an analysis carried out by the Special Secretariat of Productivity, Employment, and Competitiveness of the Ministry of Economy (Sepec/ME), describes 136 capital goods – 135 new and one renewal – that had a reduction from up to 14% to zero in Import Tax.

Secint Ordinance No. 3,534 contains 11 new ex-tariffs for IT and telecommunications goods, which reduced rates from up to 16% to zero.

With the new list, 2,514 ex-tariffs were approved by the Ministry of Economy this year. The objective of the measure is to reduce the cost of productive investments in Brazil and to encourage job creation in the country.

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