ANNOUNCEMENT 13 Apr 2012In April 2012, the government of Brazil announced a change in import formalities.
NUMBER OF INTERVENTIONS
Resolution No. 13/2012 (in Portuguese), http://legis.senado.gov.br/legislacao/ListaPublicacoes.action?id=264825
Ernst & Young Trade Watch (in Engish), http://www.ey.com/Publication/vwLUAssets/TradeWatch_December_2012/$FILE/Trade_Watch.pdf
On 13 April 2012, Brazil's Federal Senate adopted in Resolution No. 13/2012 the creation of a unified state import value added tax (Imposto sobre a Circulaçăo de Mercadorias e Serviços) ICMS of four per cent applying to interstate sales of imported goods. This new ICMS applies equally to all Brazilian states as of 1 January 2013. This resolution amounts to a de facto reduction of states' import VAT from current levels at around seven to twelve per cent. Furthermore, this new resolution guarantees to all foreign exporters/Brazilian importers of foreign goods a level playing field between all Brazilian states. Previously, foreign exporters faced varying state import VATs depending on the state to which they were shipping their goods to.