ANNOUNCED AS TEMPORARYNo
On 26 October 2015, the Brazilian Foreign Trade Council (Camex) issued Resolution no. 97 decreasing the import tariff on hybrid and electric cars from 35% to either 0%, 2%, 4%, 5%, or 7%.The tariffs took effect on 27 October 2015.
The following goods, classified under the following Mercosur Common Nomenclature (NCM), are affected by the change in the customs duty:
List of Exceptions to the Common External Tariff
The tariff codes were included in the List of Exceptions to the Common External Tariff (LETEC) of Mercosur. LETEC is a mechanism that allows member states of Mercosur to apply customs duties that are lower or higher than otherwise listed in the Mercosur Common External Tariff schedule. However, the tariffs shall not surpass the ceilings given by the WTO.
Mercosur Decision CMC no. 26/15 gives Brazil the right to maintain a LETEC of 100 codes based on the NCM until 31 December 2021. Due to this restriction, Brazil had to retrieve one other good from the LETEC, which was NCM 3002.20.29.
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