Brazilian Government Eliminates Import Tax On Machinery And Equipment To Benefit More Than 40 Sectors Of The Economy

Written by Bruno Teles

Published on 10/05/2023 at 15:11

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Import Tax: Brazilian Government Zeroes Rate of Machines and Used Equipment for Industries to Benefit More Than 40 Sectors of the Economy.

The measure, which will be published in the Official Gazette of the Union, will be valid until December 2025. According to the Ministry of Development, Industry, Commerce, and Services (MDIC), the exemption will apply to 564 machines and pieces of equipment, as well as to 64 items of information technology and telecommunications imported from the U.S., China, Germany, and Italy, and used by industries in Brazil that do not have domestic production.

The average import rate for these products was 11%, but with the tax reduction, more than 40 sectors of the economy, such as metallurgy, electricity and gas, automotive vehicles, machines and equipment, cellulose and paper, will be benefited.

The measure approved by the Executive Management Committee (Gecex) of the Chamber of Foreign Trade (Camex) aims to meet the industry’s request and allow for greater price competition equality in the productive sector, which will be able to continue investing in increasing productive capacity and generating jobs and income in the country.

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Other Decisions

In addition to the measure that zeroes the import tax for industry machines and equipment, an anti-dumping measure for the importation of gelatin capsules from Mexico and the United States was also approved. With the new measure, the gelatin capsules will be taxed between US$ 0.12 and US$ 2.13 per thousand units, a surcharge that will be applied for a period of up to five years. These capsules are used to facilitate the ingestion of supplements and medications.

The Brazilian government found, after an investigation, the unfair trade practice known as dumping by these countries. The measure will come into effect following publication in the Official Gazette of the Union in the coming days.

Another decision by Gecex was to reinstate the import tax on proteins and textured protein substances from the countries of the MERCOSUL. Currently, this category includes various products, such as soy proteins used by athletes. The zero import tax on these products has caused harm to the domestic industry, and therefore, the tax will be reinstated at the consolidated rate in MERCOSUL, which is 11.2%.

The Brazilian government believes that this measure will allow the productive sector to compete on a more equal price footing and continue investing in increasing productive capacity and generating jobs and income in the country.

Brazilian Government Eliminates Import Tax On Machinery And Equipment To Benefit More Than 40 Sectors Of The Economy

Import Tax: Brazilian Government Zeroes Rate of Machines and Used Equipment for Industries to Benefit More Than 40 Sectors of the Economy.

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Brazilian Government Eliminates Import Tax On Machinery And Equipment To Benefit More Than 40 Sectors Of The Economy

Import Tax: Brazilian Government Zeroes Rate of Machines and Used Equipment for Industries to Benefit More Than 40 Sectors of the Economy.

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