ANNOUNCED AS TEMPORARYNo
On May 9, 2012, the Government of Brazil announced the temporary tariff reduction of the ad-valorem import duty applicable to certain capital goods.
The Brazilian legislation, through the "ex-tarifarios" regime, authorizes the temporary reduction of the ad-valorem import duty of capital and information technology goods, its parts, pieces and components. This temporary reduction may take place whenever it is found that there is no domestic production of these goods. To implement these reductions, the Brazilian authorities are allowed to create new tariff positions.
Through this resolution, the Brazilian Government determines the temporary application of a 2% ad-valorem import duty for certain capital goods, classified in chapters 84, 85, 87 and 90, and on item 8428.39.90 of the Harmonized Tariff System. From the 46 capital goods, Ex 054 of NCM 8428.39.90 was the only item which received a new tariff of 10%.
Camex (Brazil's Foreign Trade Council) resolution no. 28 stays in power from 9 May 2012 until 30 June 2013.
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