See below the list of products included in the new import tax cut

To control inflationary pressure on food, the federal government reduced taxes on 11 products. The new rates began to take effect on May 12 and shall continue until the end of the year.

The idea is to make the purchase of these foreign products cheaper and more affordable to the final consumer.

Herlon Alves Brandão, the Undersecretary of Intelligence and Foreign Trade Statistics at the Secretariat of Foreign Trade, said that the measure is expected to have an impact of up to R$700 million in federal tax revenue, which may vary depending on the volume of imports, the countries of origin, and the exchange rate.

See below the list of products included in the new import tax cut:

• Frozen boneless beef: from 10.8% to 0%
• Frozen chicken pieces and offal: from 9% to 0%
• Wheat flour: from 10.8% to 0%
• Wheat and wheat-rye blends: from 9% to 0%
• Cookies and biscuits: from 16.2% to 0%
• Other baked, pastry, and biscuit industry products: from 16.2% to 0%
• Corn in grains: from 7.2% to 0%
• Sulfuric acid: from 3.6% to 0%
• Fungicides: from 12.6% to 4%
• Wire rod of iron or non-alloy steel, notched steel, and/or with ribs, grooves, and other deformations:  from 10.8% to 4%
• Iron or non-alloy steel bars: from 10.8% to 4%

Source: FDR

To read the full original article, please go to:

https://fdr.com.br/2022/05/12/governo-corta-impostos-de-importacoes-de-11-produtos-confira-quais-sao/

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