IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
Outflow (subsidised)ANNOUNCED AS TEMPORARY
NoNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoTax-based export incentive
On 27 April 2010, Brazil's drawback system for export goods was renewed and extended by Joint Ordinance (Portaria Conjunta) no. 467/2010.
The drawback system already existed before 2008 and includes various modules. The system applies to exporters who in turn receive a possibility to defer the payment of various taxes on goods that they used in the manufacturing process. Exporters may defer the import tax (II), federal excise tax (IPI), Social Integration Program contribution (PIS), and Contribution for Social Security Financing (COFINS). If a Brazilian company's final good is exported, this deferment may is turned into an exemption. Therefore exporers are effectively exempted from the payment of the stated taxes.
The Joint Ordinance no. 467/2010 regulates a new drawback module called Integrated Drawback Suspension. Three aspects in this Joint Ordinance are new to the drawback system:
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