ANNOUNCEMENT 27 Apr 2010In April 2010, the government of Brazil announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
Portaria Conjunta RFB / SECEX no. 467 of 25 March 2010, officially published in the Official Gazette of 26 March, section 1, p. 20: http://normas.receita.fazenda.gov.br/sijut2consulta/link.action?idAto=28078&visao=original
J?lia Taddei and Alaim Rodrigues Neto for Pinheiro Neto Advogados, 15 April 2010, 'Receita Federal e SECEX regulamentam o Drawback Integrado': http://www.migalhas.com.br/dePeso/16,MI105462,21048-Receita+Federal+e+SECEX+regulamentam+o+Drawback+Integrado
David Roberto R. Soares da Silva for Azevedo Sette Advogados, 25 April 2010, 'Brazil Issues New Regulations on Drawback Regime for Local Purchases, Imports', 'Originally published in the April 6 edition of World Tax Daily': http://www.azevedosette.com.br/en/noticias/brazil_issues_new_regulations_on_drawback_regime_for_local_purchases_imports/2327
Rolim, Viotti & Leite Campos Advogados, 30 April 2010, 'Brazilian Federal Revenue Service and Foreign Trade Office rule the Integrated Drawback': http://www.rolimvlc.com/en/knowledge/brazilian-federal-revenue-service-and-foreign-trade-office-rule-the-integrated-drawback/
On 27 April 2010, Brazil's drawback system for export goods was renewed and extended by Joint Ordinance (Portaria Conjunta) no. 467/2010.
The drawback system already existed before 2008 and includes various modules. The system applies to exporters who in turn receive a possibility to defer the payment of various taxes on goods that they used in the manufacturing process. Exporters may defer the import tax (II), federal excise tax (IPI), Social Integration Program contribution (PIS), and Contribution for Social Security Financing (COFINS). If a Brazilian company's final good is exported, this deferment may is turned into an exemption. Therefore exporers are effectively exempted from the payment of the stated taxes.
The Joint Ordinance no. 467/2010 regulates a new drawback module called Integrated Drawback Suspension. Three aspects in this Joint Ordinance are new to the drawback system: