Brazil Lowers Import Duties on Various Products
Last month Brazilian authorities added 314 items to a list of foreign capital goods and information technology and telecommunications products that benefit from reduced duty or duty-free treatment under the Ex-Tarifario regime. About 25% of the items added are rail industry goods, nearly another quarter will be used in the beverage sector, and others will be used in the oil, packaging, agro-industrial, maritime and food industries.
Virtually all of the 299 capital goods (classified in HS Chapters 84, 85, 86, 87 and 90), as well as all of the 15 IT and telecom goods, being added will be subject to a 2% duty through Dec. 31, 2014. Certain items classified under NCM 8602.10.00 will be duty-free through July 31, 2014. As usual, these duty reductions will not apply to used, remanufactured and reconditioned goods.
Over 2,000 products have been added to the Ex-Tarifario regime so far this year. Sectors benefiting from this regime in 2013 include electronics, energy generation, civil construction, maritime, rail, oil, iron and steel, automotive parts, motor vehicles and food.