Brazilian Government eliminates import tax on nearly 5,000 machines and equipment

The decision of the Foreign Trade Chamber (Camex) to eliminate the Import Tax for industrial machines and equipment in Brazil came into effect on Thursday (17 August).

The regulation published in the Official Gazette of the Union states that 4,903 equipment with an import tax of 2% will be adjusted to 0% without retroactive effects.

Of this total, 4,552 are capital goods and 351 are computer and telecommunications goods. Imports of equipment for industries in the medical and hospital sectors, auto parts, food, electronics and packaging, among others, will benefit.

The proposal was presented by the Minister of Development, Industry and Foreign Trade, Marcos Pereira, at the last meeting of the Foreign Trade Chamber (Camex), and unanimously approved by the Council of Ministers.

According to the Minister, it is extremely important to reduce the cost of productive investment in Brazil to generate more jobs and stimulate economic recovery. Furthermore, in the coming days new ex-tariffs will be published, at 0%, which should stimulate investments of US$ 3.1 billion.

 

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