Brazil reduced import tax on 275 industrial, computing itemsStaff writer ▼ | April 26, 2016
Resolutions by the Foreign Trade Chamber (Camex) reduced the import tax on 275 machinery, industrial equipment and computing items, all of them not manufactured in Brazil.
Doing business The import tariffs on 251 capital goods went from 14% to 2%
The import tariffs on 251 capital goods went from 14% to 2%. For 24 computing items, the tariffs went from 16% to 2%.
According to data provided by the companies that requested the tariff exceptions, said the ministry, the equipment about to be imported should to come especially from Germany, Finland, Italy, United States, South Korea, Holland, China, Austria and Japan.
The tariff exception regime temporarily reduces the import tax on capital goods and computing and telecommunications items when the products aren’t produced domestically.
According to the ministry, in addition to enabling an increase in investments, the regime encourages innovation by companies across different sectors of the economy, incorporating new technologies that are nonexistent in Brazil, with an impact on the productivity and competitiveness of local companies. ■