Government zeroes import tax for 628 industrial machines and equipment – 05/09/2023 – Market

A committee of the Foreign Trade Chamber, a body linked to the Ministry of Development, Industry, Commerce and Services, approved the import tax exemption for 628 industrial machines and equipment not produced in Brazil, the folder said this Tuesday (9).

The measure, which will last until the end of 2025, was approved by the Executive Management Committee (Gecex) in a meeting this Tuesday (9). The objective, according to a statement from the ministry, is to reduce costs for productive investments in Brazil and generate jobs.

The products involved had an average rate of 11% and the focus is on those that are not manufactured in Brazil, according to the folder.

In addition to 564 industrial machinery and equipment manufactured abroad, the measure includes the inclusion of 64 new items for IT and telecommunications goods, the government said.

The ministry stated that, according to information from the companies that applied for the benefit, which were not identified in the statement, the tariff reduction will favor the import of goods valued at more than US$800 million, in sectors such as metallurgy, electricity and gas, motor vehicles, machine manufacturing and equipment, and cellulose.

“About 80% of the equipment with tariff reduction will be imported from the United States, China, Germany and Italy, as there is no domestic production in these cases,” said the ministry.

The government also announced an anti-dumping measure for gelatine capsules used for taking medicines and supplements, an input currently imported from Mexico and the USA and which will be surcharged between US$ 0.67 to US$ 2.13 per thousand units for a period of up to five years. The move follows an investigation into the segment that found unfair trading practices, according to the statement.

In addition, the folder announced the exclusion of protein concentrates and textured protein substances, such as soy proteins used by athletes, from the list of exceptions to the Mercosur Common External Tariff. The government stated that the measure caused damage to the domestic industry and, therefore, the products will again be taxed with the tariff consolidated in the block, of 11.2%.

The measures should be published in the next few days in the Official Gazette, the government said.