Commercial Information Circulars
24-hour hotline : 23 922 922
e-mail address : enquiry@tid.gov.hk
Ref : EIC 413/2
5 July 2012
Dear Sirs,
Commercial Information Circular No. 516/2012
Brazil : Establishment of a Value-Added Tax for Inter-state Circulation of Imported Products
The Brazilian Government issued Resolution No. 13/2012 on 25 April 2012 to establish a single, unified value-added tax of 4% on inter-state circulation of imported products. The Resolution will come into force on 1 January 2013.
2.The 4% tax will be applied to imported products which have not undergone any manufacturing process in Brazil after customs clearance, or those with certain processes undergone in Brazil if their import content exceeds 40%. The import content is the ratio of the value of the imported portion to the total value of inter-state output operation. The tax will not be applicable to imported products which are not available in Brazil, those produced in accordance with Brazil's basic productive processes (as permissible under certain laws mentioned in Section 4.II under Article 1 of Resolution No. 13/2012), and imported natural gas.
3.For details, traders are advised to consult their importers in Brazil and/or the above Brazilian Resolution (in Portuguese), which is available at:
Resolution No. 13/2012:
http://www6.senado.gov.br/legislacao/ListaTextoIntegral.action?id=245057
&norma =264825.
ENQUIRIES
4.For enquiries about the content of this circular, please contact Miss S Y TANG at telephone number 2398 5405.
Yours faithfully,
(Ms Cindy CHENG)
for Director-General of Trade and Industry
| Note : | While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same. |