ANNOUNCED AS TEMPORARYNo
On 25 November 2014, the Brazilian Foreign Trade Council (Camex) issued Resolution no. 114 decreasing the import tariff on 412 types of capital goods from 14% to 2%. Out of the 412 items, 353 are new ex-tarifários, while the 59 remaining ones' statuses have been renewed. The reduced tariffs took effect on 26 November 2014 and last until 30 June 2016.
Brazil's ex-tarifário scheme allows capital and IT-goods a temporary customs duty exception to the Mercosur Common External Tariff. Such an exception can be invoked in case the good in question has no domestically produced equivalent (see WTO Trade Policy Review). The measure was introduced simultaneously with Camex Resolution no. 113 which reduces the tariffs on goods belonging to the IT-sector (see 'Related Measures' or measure no. 8694).
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