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Camex zeros import tax for almost 5 thousand machines and equipment

Trade

Imports of equipment for industries from the medical-hospital sectors, auto parts, food, among others

The decision of the Foreign Trade Chamber (Camex) to zero the Import Tax for industrial machines and equipment in Brazil came into effect on Thursday (17). With the measure published in the Official Gazette of the Union ,  4,903 equipments that were with rates of 2% (approved in 2016 and 2017), will be adjusted to 0% without retroactive effects. 

Of this total, 4,552 are capital goods and 351 are computer and telecommunications goods. Imports of equipment for industries in the medical and hospital sectors, auto parts, food, electronics and packaging, among others, will benefit. 

According to Camex, the new rule applies only to machines and equipment that have not been internalized. The new lists of ex-tariffs will already come with the rate reduced from 2% to 0%.

The proposal was presented by Minister of Development, Industry and Foreign Trade, Marcos Pereira, at the last meeting of the Foreign Trade Chamber (Camex), and unanimously approved by the Council of Ministers.

According to the minister, it is extremely important to reduce the cost of productive investment in Brazil to generate more jobs and stimulate economic recovery. According to him, in the next days will be published new ex-tariffs, at 0%, which should stimulate investments of US $ 3.1 billion.

Source: Portal Brasil, with information from the Ministry of Industry, Foreign Trade and Services