ANNOUNCED AS TEMPORARYNo
Internal taxation of imports
On May 22, 2012, the Government of Brazil, announced a reduction of the tax on Industrialized Goods (IPI, for its acronym in Portuguese) applicable to certain types of domestically produced vehicles for military or agricultural use belonging to the HS-codes 8703.32.10 and 8703.33.10.
According to Decree 7.725/2012, the applicable IPI rate for these types of vehicles will be reduced from 15% to 7.5% for the period of 22 May 2012 to 31 August 2012.
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