ANNOUNCED AS TEMPORARYNo
On 16 November 2012, the Brazilian Foreign Trade Council (Camex) increased the tariff on paper for print money (NCM 4802.57.91) from 6% to 12%. Camex resolution no. 83/12 takes effect on 16 November 2012 and adds the item to the list of products with a tariff exception to the Mercosur Common External Tariff.
List of Exceptions to the Common External Tariff
The tariff codes were included in the List of Exceptions to the Common External Tariff (LETEC) of Mercosur, which is a mechanism that allows member states of Mercosur to apply customs duties that are lower or higher than otherwise listed in the Mercosur Common External Tariff schedule.
However, the tariffs shall not surpass the ceilings given by the WTO. Mercosur Decision CMC no. 26/15 gives Brazil the right to maintain a list of 100 codes based on the Mercosur Common Nomenclature until 31 December 2021.
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