Brazil: Reduction in the important tax rate

published on 2 June 2022 | reading time approx. 1 minute

The Federal Government of Brazil, through the Chamber of Foreign Trade, reduced to zero the Import Tax rate on foods such as beef, frozen chicken, wheat flour, corn grains, cookies and other bakery and pastry products. The reduction was made with the inclusion of items in the List of Exceptions to the Mercosur Common External Tariff (LETEC).

In addition to food, there was a reduction in the tax burden for certain agricultural inputs and CA50 and CA60 steel rebars used in civil construction, previously taxed at 10.8 percent, now at a rate of 4 percent.

Reductions start on 12 May 2022 and are valid until 31 December 2022.

The Tax Consulting team from Rödl & Partner South America is available for further clarification on this relevant topic.