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Insights Brazil: Reduction in the Tax Rate on Industrial Products

Brazil: Reduction in the Tax Rate on Industrial Products

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published on 11 March 2021 | reading time approx. 2 minutes

 

In February 2022, Decree n° 10,979/22 was published, which modified the provisions of the Tax on Industrial Products Incidence Table – TIPI (Decree n° 8,950/16).

 

 

From the standard, the “IPI” rates are reduced in the following terms:
 
  1. By 18.5 percent for products classified under heading codes 87.03 (motor vehicles); 
  2. By 25 percent for products classified in the other codes.
 
As an example, vehicles classified under NCM 8703.23.90, which were previously taxed at 25 percent, are now in effect at a rate of 14.67 percent.
 
The tax reduction is not applicable to tobacco and its manufactured substitutes, as well as to products speci­fied in the legislation whose rates are fixed and determined according to energy efficiency indices and other factors.

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