ANNOUNCEMENT 09 Jul 2014
In July 2014, the government of Brazil announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
KPMG regulatory update of 27 October 2014: http://www.kpmg.com/global/en/issuesandinsights/articlespublications/taxnewsflash/pages/2014-2/brazil-tax-credit-program-for-exports-is-extended.aspx
Provisional Measure no. 651 of 9 July 2014, published in the Official Gazette of 10 July 2014: http://pesquisa.in.gov.br/imprensa/jsp/visualiza/index.jsp?data=10/07/2014&jornal=1&pagina=1&totalArquivos=88
Decree no. 8.304 of 12 September 2014, published in the Official Gazette of 15 September 2014: http://pesquisa.in.gov.br/imprensa/jsp/visualiza/index.jsp?jornal=1&pagina=1&data=15/09/2014
On 9 July 2014, the President of Brazil issued Provisional Measure (PM) no. 651 reintroducing the REINTEGRA program which had originally been terminated on 31 December 2013. The PM, which was transformed into Decree no. 8.304 on 12 September 2014, does not stipulate an expiration date. The affected products are listed in the annexe of the Decree.
Please note that Brazil only exported on a subset of the eligible tariff lines in the year prior to implementation.