ANNOUNCED AS TEMPORARYNo
On June 4, 2012, the Government of Brazil, announced a reduction of the tariff on Industrialized Goods (IPI, for its acronym in Spanish) applicable to mineralized water and certain types of food preparations.
According to this decree, as of October 1, 2012, the applicable IPI rate for these types of vehicles will be subject to a tariff reduction scheme that will be completed in 2013.
The products subject to the tax reduction are classified under chapters 21 and 22 of the Harmonized Tariff System.
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