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Brazil Cuts Import Duties On 166 Items

by Mike Godfrey, Tax-News.com, Washington

29 June 2015


Brazil's Chamber of Foreign Trade (CAMEX) announced on June 22, 2015, that import duty on 166 capital goods and computer and telecommunications products has been temporarily reduced.

A reduced rate of two percent will apply until December 31, 2016, in the case of capital goods, and until December 31, 2015, in the case of computer and telecommunications products.

The tax breaks are intended for equipment to be used in the industrial projects in the states of Ceará, Santa Catarina, Pernambuco, and São Paulo. The tariffs exclusively cover goods that are not available from domestic sellers and will mainly benefit exporters in Spain, the United States, Canada, Italy, and Germany.

TAGS: tax | tariffs | food | Brazil | Canada | Germany | Italy | Spain | United States | tax breaks | import duty | trade | telecoms

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