Brazil to Begin Accepting, Issuing ATA Carnets
The Brazilian Federal Revenue Service has announced plans to begin recognizing ATA carnets issued by other countries sometime this month and Brazil’s 27 industry federations are expected to begin issuing carnets in September. However, there is still no definitive implementation date and CAMEX, the Foreign Trade Chamber of Brazil, has yet to publish rules for handling sensitive or controlled goods.
Carnets are international customs documents that ease temporary imports of commercial samples, professional equipment, and goods for exhibitions and fairs by simplifying customs procedures, eliminating duties and value-added taxes, and replacing the purchase of temporary import bonds. Brazil’s recognition of carnets will thus allow, for example, expedited imports of eligible equipment for the summer Olympic Games that will be held in Rio de Janeiro in August. Further, the issuance of carnets by Brazil will allow Brazilian exporters to ship covered goods to dozens of participating countries and territories for up to 12 months without paying import duties and taxes.
Sandler & Travis do Brasil is continuing to monitor this situation and anticipates further developments in the near future. For more information please email us.