Brazilian Revenue Service issues normative ruling facilitating imports by individuals

The Brazilian Federal Revenue Service has issued Normative Ruling No 2101, facilitating the process for individuals to acquire goods abroad and bring them into Brazil with the help of an importer through two different modalities: ”by account and order’ or ‘by order,’ which were previously carried out only by companies.

The new ruling will come into force on Monday, October 3, in all national territories. Still, the Tax Authorities emphasize that if there is any irregularity or attempt to conceal the fact that the imported product is being purchased, the most severe punishment provided by law, the decree of forfeiture, which is the seizure of the goods, will be applied.

According to the ruling’s draft, in the case of importers “by order,” the individual hires an importer duly established in Brazil, which acquires and brings the product in its name to, subsequently, sell it to the final consumer.

If the buyer chooses to import “by account and order,” they must purchase and pay for the product on their behalf, but they must hire an importer to handle the entire customs clearance process. It is worth noting that the consumer can only bring products related to their professional activities in this mode.

According to specialists in foreign trade, the ‘by order’ modality can represent benefits for the final consumer since importers can carry out negotiations and have better logistics costs due to their expertise in the market and with customs activities.

Source: Portal In

To read the full original article, please go to: https://www.portalin.com.br/negocios/receita-publica-instrucao-normativa-que-facilita-importacao-por-pessoas-fisicas/

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