ANNOUNCEMENT 30 Mar 2017
The Government of Brazil set again an additional 1% rate of the contribution for the financing of social security applied on imports.
NUMBER OF INTERVENTIONS
Presidency of the Republic of Brazil. Presidência da República. Medida Provisória 704, de 09 de Agosto de 2017. Available at: http://www.planalto.gov.br/ccivil_03/_ato2015-2018/2017/Mpv/mpv794.htm#art1
Presidency of the Republic of Brazil. Presidência da República. Lei 10.865, de 30 de Abril de 2014. Art. 21. Available at: http://www.planalto.gov.br/ccivil_03/_ato2004-2006/2004/lei/l10.865.htm
On August 9, 2017, the president of Brazil issued Provisional Measure 794/2017 revoking Provisional Measure 774/2017 and setting again the additional 1% rate of the contribution for the financing of social security (i.e. COFINS) levied on imports related to oil and natural gas; pharmaceuticals, pharmaceuticals, toiletries, toilet linen and toiletries; certain machines; certain auto parts; and certain packaging destined to the bottling of water, soda and beer. This additional 1% was set on Law no. 13.137 from June 22, 2015, but suspended by Provisional Measure 774/2017 (see related state acts).