Brazil Lowers Duties on Additional Products
13 October 2017
Brazilian authorities recently announced the addition of 115 items to a list of foreign capital goods and information technology and telecommunications goods that benefit from duty-free treatment under the Ex-Tarifario regime, down from 14 or 16 percent. Of this total, 105 items are capital goods (85 new and 20 renewals) and the remaining ten are IT and telecom goods (eight new and two renewals). Foreign products benefiting from these duty exemptions are expected to be used for civil construction, automotive and food manufacturing projects.
In addition, a total of nine items have been added to the list of automotive parts that benefit from a reduced two percent duty, down from 14, 16 or 18 percent. Finally, a tariff-rate quota has been established for a period of 12 months on up to 1,249 tonnes of single yarn of viscose rayon with a twist not exceeding 120 turns per meter classified under NCM 5403.31.00. In-quota imports will benefit from a reduced two percent duty while out-of-quota merchandise will be subject to the regular most-favoured-nation rate of 18 percent.
- Central & South America