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

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

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

Inception date: 09 Aug 2017 | Removal date: open ended

Internal taxation of imports

 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).