ANNOUNCED AS TEMPORARYNo
Import-related non-tariff measure, nes
On 13 April 2012, Brazil's Federal Senate adopted in Resolution No. 13/2012 the creation of a unified state import value added tax (Imposto sobre a Circulaçăo de Mercadorias e Serviços) ICMS of four per cent applying to interstate sales of imported goods. This new ICMS applies equally to all Brazilian states as of 1 January 2013. This resolution amounts to a de facto reduction of states' import VAT from current levels at around seven to twelve per cent. Furthermore, this new resolution guarantees to all foreign exporters/Brazilian importers of foreign goods a level playing field between all Brazilian states. Previously, foreign exporters faced varying state import VATs depending on the state to which they were shipping their goods to.
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