ANNOUNCEMENT 07 Mar 2018
The Government of Brazil included a new product in the List of Exceptions to the Common External Import Tariffs (LETEC) and eliminated the applicable import duty.
NUMBER OF INTERVENTIONS
Brazilian Foreign Trade Council. Camara de Comercio Exterior. Resoluçao 16, de 7 de Março de 2018. Available at: http://www.camex.gov.br/component/content/article/62-resolucoes-da-camex/em-vigor/1991-resolucao-n-16-de-07-de-marco-de-2018
On 7 March 2018, the Brazilian Foreign Trade Council issued Resolution 16 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 equipment, cables and pulleys for amusement parks classified under NCM 8428.60.00. The previously applicable tariff was set at 14%.
The new import duty applies for six months.
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.