Brazil slashes import tax on 13 products

The Brazilian federal government has reduced or lifted import taxes on 13 products in different categories via a ruling from the Executive Management Committee of the Foreign Trade Chamber (Gecex-Camex), an arm of the Ministry of Development, Industry, Trade and Services (Mdic, in the Portuguese acronym).

The products include medications for treating cancer, including prostate cancer; inputs for the manufacturing of medical gloves, wind turbine blades, tires, and pesticides; hydrogel contact lenses; radiography film; and other items. The import tariffs on these products ranged from 3.6% to 18% and have been lifted.

New ex-tariffs (tariff exceptions or temporary tax reductions) have been applied to 226 types of capital goods, or NCMs (Mercosur Common Nomenclature, i.e., Mercosur product codes), as well as 202 items under the Non-Domestically Made Auto Parts Regime, in which case import tax breaks are put in place because the goods are not manufactured in the country.

Tariff hikes

The Mdic said in a statement that the Gecex has also ruled in favor of tariff hike requests on goods such as industrial glass inputs and solar cells for solar panel-making in a bid to foster domestic production and jobs creation in Brazil.

Source: ANBA

Sharing is caring!