ANNOUNCED AS TEMPORARYNo
On October 23, 2013, the Government of Brazil announced the temporary tariff reduction of the ad-valorem import duty applicable 109 capital goods of which 108 are new and one has been renewed. The reduction will be in place until 31 December 2014.
The Brazilian legislation, through the "ex-tarifarios" regime authorizes the temporary reduction of the ad-valorem 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 import duty for goods classified under 107 codes of the following Chapters of MERCOSUR's Harmonized Tariff System: 84, 85, 86 and 90.
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