Government zeroes import tax on cargo transportation tires

On January 20th, the Foreign Trade Chamber (CAMEX) of the Ministry of Economy zeroed the import tax for cargo vehicle tires. At a meeting of the Executive Management Committee (GECEX) – CAMEX’s collegiate nucleus – the change in the rate was approved to help reduce the operating costs of road freight transport in Brazil.

The measure that zeroes the import tax on tires was in response to a request from the Ministry of Infrastructure, given the Road Cargo Carrier’s participation in the country’s transportation matrix and the sector’s difficulties from the economic restriction caused by the pandemic Covid-19.

GECEX took into account information received from companies in the sector. The additional demand, the increase in commodity prices in the international market, and the exchange rate variation in Brazil have all put high pressure on tire prices in the domestic market.

The amendment covers items classified under code 4011.20.90 of the Mercosul Common Nomenclature (NCM) – New rubber tires, of the types used in trucks – which in 2020 registered imports for US$ 141.8 million for more than 1.28 million units, according to data from the Foreign Trade Secretariat (SECEX) of the Ministry of Economy.

The measure came into force on January 21, with its publication in the Federal Register.

Source: Comex do Brasil

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