ANNOUNCED AS TEMPORARYNo
On 24 September 2015, the Brazilian Foreign Trade Council (Camex) issued Resolution no. 89 decreasing the import tariff on 152 tariff codes belonging capital goods to 2%. Out of the 152 items, 145 are new while the remaining seven have been renewed. The measure which took effect on 25 September 2015 lasts until 31 December 2017.
The tariffs were reduced under Brazil's ex-tarifário regime which allows for a temporary customs duty exception to the Mercosur Common External Tariff on capital and IT goods. Such an exception can be invoked in case the good in question has no domestically produced equivalent. The goal of this is to restructure Brazil's industrial park and infrastructure services.
The measure was introduced simultaneously with Camex Resolution no. 88 which reduces the tariff on IT goods (see measure no. 9928 under Related Measures). According to Camex, both measures produce 161 ex-tarifários representing USD 1.01billion of imported goods.
The sectors benefiting from the customs duty decrease are food (50.17), energy (15.79), pharmaceuticals/chemistry (5.06), capital goods (4.91), electronics (2.88), petroleum (2.81) plastics (1.78), transport (1.60), services (1.57) and other (5.21).
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