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The Blusinha Fee, created to regulate low-value international purchases, had a serious side effect: the Post Office reported a loss of over R$ 2.1 billion. The sudden drop in imports by consumers directly affected the revenue of the state-owned company, which is now facing one of the largest financial gaps in its history.
A legislative change, approved in 2024, caused a billion-dollar loss to the Post Office. The state-owned company estimates it lost over R$ 2.1 billion after the creation of the so-called “blusinha fee.” The data was revealed in an internal document obtained by g1.
The fee was proposed by the Ministry of Finance and sanctioned by the National Congress in June of last year. The measure changed the import rules for international purchases of up to US$ 50, mainly affecting shipments from China.
Expected Revenue Did Not Materialize
Prior to the new law, the Post Office expected to collect R$ 5.9 billion from the transport of imported goods from China in 2024.
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But the revenue collected was R$ 3.7 billion, or R$ 2.2 billion less. The drop represents about 37% of what was expected.
Even considering the new rule and a more conservative scenario, the numbers fell short of forecasts. With a revenue forecast of R$ 4.9 billion, there was still a loss of R$ 1.7 billion.
“We had a revenue expectation, which was frustrated, so this frustrated revenue expectation translates into a loss for the company“, he stated.
The President of the Post Office, Fabiano Silva.
Market Share Loss
Another point raised by Fabiano was the loss of the Post Office’s space in the international delivery market. Before the new legislation, the state-owned company dominated 98% of this segment. Today, this share has dropped to just over 30%.
“We are around 30-something percent,” said Fabiano, highlighting the entry of other companies into the sector, which have started handling international freight within Brazil.
According to sources linked to the state-owned company, the Post Office is now exploring ways to reverse the situation. The main attempt is to amend the decree-law that established the new simplified taxation model, seeking to return to the previous rules.
Deficit and Impact on State-Owned Companies
The crisis at the Post Office was officially cited by the Ministry of Management as one of the main factors for the increase in the deficit of state-owned companies in 2024. According to the government, the state-owned company had a deficit of R$ 3.2 billion last year.
“A significant part of the explanation for the increase in the deficit is the Post Office’s deficit, which indeed increased considerably,” said the Secretary of Coordination and Governance of State-Owned Companies, Elisa Leonel.
She further emphasized that the company has stopped investing, terminated contracts, and lost revenues since it was included in the National Privatization Plan during former President Jair Bolsonaro’s government.
Fabiano also acknowledged that the Post Office missed opportunities during the pandemic, when the volume of orders was high. “That was the moment to have made a quality leap. At that point, we should have diversified our activities,” he stated.
How the Blusinha Fee Works
The new law created a specific tax for international purchases of up to US$ 50, something that became popularly known as the “blusinha fee.” Despite being criticized by President Luiz Inácio Lula da Silva, the proposal was sanctioned.
The charge now operates in two tiers:
- 20% on the amount up to US$ 50;
- 60% on the amount that exceeds this limit.
In addition, state ICMS also applies, which will be adjusted in April, increasing from 17% to 20%.
The law provides for a discount of US$ 20 on purchases over US$ 50, which somewhat alleviates the tax burden.
For example, on a purchase of US$ 60, the final tax would be US$ 16. This is because there is a 20% charge on the first US$ 50 (generating US$ 10 in tax), and 60% on the remaining US$ 10 (US$ 6).
On a larger purchase of US$ 3,000, the discount remains at only US$ 20. In other words, the higher the value, the greater the weight of the new fee.
With the drop in revenue, market share loss, and increasing deficit, the Post Office is now trying to respond. The main bet of the state-owned company is to review the legislation and recover some of the lost space.
In the meantime, the company remains under the observation of the federal government, which is assessing measures to ensure its financial sustainability.
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