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Brazil Amends Its Exceptions To Mercosur CET

by Mike Godfrey, Tax-News.com, Washington

10 July 2014


Brazil's Foreign Trade Chamber (CAMEX) decided on July 3, 2014, to add six new items to its List of Exceptions to the Common External Tariff (Letec).

Import duties on the newly added items will be increased as follows:

  • From 10 percent to 20 percent for hydrogenated castor oil (classified under code 1516.20.00 of the Mercosur Common Nomenclature);
  • From 4 percent to 20 percent for white mineral oils (code 2710.19.91);
  • From 10 percent to 20 percent for hydrogencarbonate (code 2836.30.00);
  • From 2 percent to 20 percent for ricinolic acid (code 3823.19.00);
  • From 14 percent to 20 percent for machining centers (code 8457.10.00); and
  • From 14 percent to 20 percent for speed changers, including torque converters, reducers, multipliers, and gear boxes (code 8483.40.10).

As a member of Mercosur - a South American trade bloc, which also includes Argentina, Paraguay, Uruguay, and Venezuela - Brazil is required to apply the group's common external tariff on imports from non-Mercosur countries. Under Mercosur rules Brazil may temporarily exempt up to 100 items from the common external tariff. The above six products may remain on the list of exceptions until December 31, 2015.

CAMEX also said that six products will be removed from the list of exceptions. The import duties on these products will be returned to the common external tariff rates as follows:

  • From 55 percent to 35 percent for peaches (code 2008.70.90);
  • From 0 percent to 4 percent for joint cement (code 29/10/2523);
  • From 35 percent to 16 percent for bicycle tires (code 4011.50.00);
  • From 12 percent to 6 percent for banknote paper (code 4802.57.91);
  • From 35 percent to 12 percent for porcelain (code 6907.90.00); and
  • From 2 percent to 16 percent for instruments, apparatuses, and models, designed for demonstrational purposes (code 9023.00.00: Ex 001 and 002).

TAGS: tax | Paraguay | Venezuela | tariffs | Brazil | import duty | trade | Argentina | South America

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