ANNOUNCED AS TEMPORARYNo
Internal taxation of imports
On May 31, 2012, the Government of Brazil announced an increase of the tariff on Industrialized Goods (IPI, for its acronym in Portuguese) applicable to air conditioning systems. Additionally, the Brazilian authorities included microwaves and certain types of motorcycles in this tax regime.
According to this decree, as of May 31, 2012, the applicable IPI rate for air conditioning systems will be of 35%, and as of June 4, 2012 the applicable IPI rate for microwaves and these types of motorcycles will also be of 35%.
The products subject to the tax increase are classified under the following headings of the MERCOSUR Harmonized System: 8415.10.11, 8415.90.10, 8415.90.20, 8516.50.00, 8711.10.00 and 8711.20.
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