ANNOUNCED AS TEMPORARYNo
On December 27, 2010, the Brazilian government announced the exclusion of the product code 3206.11.19, classified under the Mercosur Common Nomenclature (NCM), from the list of exceptions of the Common External Tariff. The product is now back to its original rate of 12%.
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, which 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 list of 100 codes based on the Mercosur Common Nomenclature until 31 December 2021.
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