Brazil to lower import tax to zero on shipments up to USD 50

Finance Minister, Fernando Haddad, has announced a significant reduction in Import Tax rates on postal shipments to Brazil and international air parcels for individuals. In a recent regulation published on Friday (30) in the Federal Official Gazette (DOU), the tax rate will be reduced to 0% for goods valued up to US$ 50.00 or the equivalent in other currencies. The new regulation will come into effect from August 1.

The decision specifies that companies must comply with specific requirements, including the payment of state taxes on imports, to benefit from this reduced rate. The Federal Revenue Service will monitor adherence through evaluation reports every two months, keeping track of the results achieved and proposing any necessary changes to the program.

To facilitate this process, the minister approved amendments to a previous decree, introducing a provision stating that the Simplified Taxation Regime would be valid for customs clearance of imported goods purchased through e-commerce companies participating in the Special Secretariat’s compliance program.

According to the minister’s resolution, an e-commerce company is a national or foreign company that utilizes platforms, websites, and digital intermediation means for product buying and selling through their own solutions or those provided by third parties.

Source: G1

To read the original news article, please visit: https://valor.globo.com/brasil/noticia/2023/06/30/consumidores-terao-imposto-de-importacao-zerado-em-compras-ate-us-50-a-partir-de-1o-de-agosto.ghtml

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