Brazil's decision to reduce import taxes on computers and mobile phones to 14.4% will take effect tomorrow

According to the comexdobrasil website on March 17, the Trade Commission of the Brazilian Ministry of Economy (Camex) will officially publish the latest economic adjustment tariff reduction resolution involving 1,495 products (including sub-types) in the Federal Official Gazette on March 18, and it is expected to take effect on March 25.

Due to the depreciation of the Brazilian currency, the real, last year, the prices of some products in Brazil have risen sharply . Therefore, the reduction in import tax rates this time will mainly target fixed assets such as machinery and equipment, laptops and mobile phones, IT and telecommunications related products , thereby reducing the purchase costs of consumers and foreign-invested enterprises and improving Brazil's domestic economic production efficiency.

According to the Common External Tariff ( TEC ) of the South American trade bloc Mercosur , the import tariffs on the above products were between 0 and 16% before the tax adjustment . After the tax reduction, the import tax rate of mechanical equipment, which was 10%, will be reduced to 9%; the tax rate of electronic products will be reduced from 16% to 14.4%; the products with a tax rate of 2% will see a greater reduction and will achieve zero import tariffs.

According to Brazil 's Economy Ministry, the measure could reduce bureaucracy while improving the lives of importers and consumers.

The Brazilian Ministry of Economy also detailed some tax reduction measures. For example, the import tax on mobile phones and laptops will be reduced from 16% to 14.4% ; the import tax on medical X-ray equipment and optical microscopes will be reduced from 14% to 12.6% ; in addition, other products that benefit from this tax reduction measure include machines for baking and brewing beer , and basic goods related to civil construction, such as cranes , excavators , forklifts , locomotives and containers.

Camex also announced the decision to revoke its previously issued resolution to reduce import tariffs on bicycles , because after Brazilian President Bolsonaro announced last month that the tariff on imported bicycles would be gradually reduced from 35% to 20%, it was met with dissatisfaction and opposition from some local bicycle manufacturers, especially those in the Manaus Free Trade Zone in Brazil.

The decision of the Brazilian Ministry of Economy to reduce import tariffs on computers and mobile phones will help increase sales of related products in Brazil, thereby boosting a series of peripheral products ; in addition, the further popularization of laptops and mobile phones will also help increase the number of online shopping consumers in Brazil, thereby further promoting the sales of cross-border e-commerce sellers . Sellers should not miss this opportunity to make a big profit!

Brazil

Import taxes