ANNOUNCED AS TEMPORARYNo
On 4 June 2018, the Brazilian Foreign Trade Council issued Resolution 36 temporarily inserting a new tariff line in the List of Exceptions to the Common External Tariff. This change led to the elimination of the import tariff on three different types of recreational equipment for amusement parks classified under NCM 9508.90.90. The previously applicable tariff was set at 20%.
List of Exceptions to the Common External Tariff
The tariff codes were included in the List of Exceptions to the Common External Tariff (LETEC) of Mercosur. LETEC is a mechanism that allows member states of Mercosur to apply customs duties that are lower or higher than otherwise listed in the Mercosur Common External Tariff schedule. However, the tariffs shall not surpass the ceilings given by the WTO.
Mercosur Decision CMC no. 26/15 gives Brazil the right to maintain a LETEC of 100 codes based on the NCM until 31 December 2021.
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