ANNOUNCED AS TEMPORARYNo
On 5 October 2011, the Brazilian Foreign Trade Council (Camex) issued Resolution no. 74 reducing the import tariffs on 11 capital goods and 5 integrated systems goods to 2%. According to the latest tariff information reported to the WTO, Brazil applied average tariffs ranging from 23% to 35% on the stated tariff lines in 2010.
The goods have been classified as ex-tarifários which are goods with a tariff exception to the Mercosur Common External Tariff. The goal of the reduced tariff is to restructure Brazil's industrial park and infrastructure services by incentivizing investments in capital or IT and telecommunication goods. An exception from the Mercosur Common External Tariff can be invoked in case of a shortage or no domestic production of the good in question.
The measure took effect on 06 October 2011 and lasted until 31 December 2012.
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