Senate approves tax exemption on imported photographic equipment

The Senate approved, on the 22nd, a bill exempting from import taxes the equipment used by photographers, reporters, cinematographers, and camera operators. The Congress’ Lower Chamber had already approved the project that is now up for presidential sanction.

This project allows photographic equipment to be exempt from import taxes like the Federal excise tax, the Contribution for Social Security Financing Tax (Cofins), among other taxes like PIS/PASEP.

The bill intends to only allow tax exemption on imported photographic equipment with no domestic substitutes available in the market. The exemption will have a limit of R$ 50 thousand, and the beneficiary is obliged to remain in possession of the acquired equipment for a minimum period of two years.

“This project aims to renew the set of equipment and materials available in the country for image recording services (photographer, photographic and cinematographic reporter, cameraman and camera operator),” said Senator Esperidião Amin (PP-SC) rapporteur of the project.

“Technological evolution in this area has created new needs for Brazilian professionals, who are hampered by the high cost of imported equipment and the taxation levied on it. Such a situation could result in a technological lag, causing significant harm to the professional activities that shall benefit from this bill,” he added.

There was already a Federal Revenue Normative Instruction (IN) granting tax exemption to amateur photographic and cinematographic equipment and materials. The project approved today broadens this benefit to include photographic equipment and materials for professional use. However, when a company makes a purchase, the exemption does not apply.

Source: Agência Brasil

To read the full original article, please go to:

https://agenciabrasil.ebc.com.br/geral/noticia/2022-03/senado-aprova-isencao-de-impostos-em-equipamento-fotografico-importado

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