ANNOUNCED AS TEMPORARYNo
On November 14, 2012, the Government of Brazil announced the temporaryreduction of the ad-valorem Most Favored Nation (MFN) import duty applicable to 227 capital goods.
The Brazilian legislation, through the "ex-tarifarios" regime authorizes the temporary reduction of the ad-valorem MFN 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 MFN import duty for certain goods classified under Chapters 84, 85, 87, and 90 of the Mercosur´s Harmonized Tariff System.
The Camex (Brazil's Foreign Trade Council) resolution no. 82/12 stays in effect from 14 November 2012 until 30 June 2014.