Norte Global Trade

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Approved ex-tariff to encourage US $ 1.4 billion investment

Brasilia (February 2) - The Chamber of Foreign Trade (CAMEX), chaired by the Ministry of Development, Industry and Foreign Trade (MDIC), approved the reduction of import duty to 445 machines and equipment without domestic production and will be used by industries are planning investments of $ 1.4 billion in Brazil. 435 are capital goods and 10 computer and telecommunications goods imports representing approximately $ 1 billion. The list of 445 items benefited from the reduction from 16% to 2% for computer goods and from 14% to 2% in the case of capital goods, part of the CAMEX Resolution No. 8/2015 and the CAMEX Resolution No. 7/2015, published in today's edition of the Official Gazette.

The main sectors covered by the benefit from the value of global investments, will be the capital goods (19.51); food (9.39); petrochemicals (7.92%); cement (6.15%); wood and furniture (5.95%); and construction (5.80%). For the countries of origin of foreign purchases are: United States (32.78%); Germany (25.81%); Italy (13.16%); China (6.66%); and the Netherlands (4.09%).

What are ex-tariff

The regime of ex-tariff aims to stimulate investments for expansion and restructuring of the national productive sector of goods and services through the temporary reduction of import duty for capital goods and computer goods without production telecommunications in Brazil. It is up to the ex-tariff Review Committee (Caex) to verify the absence of domestic production and the merits of the claims in view of the intended objectives, the investment involved and government development policies. Brazilian manufacturers of industrial machinery and equipment also participate in the national production analysis process.

Source: http://www.mdic.gov.br