Brazil Tax Stamp and Duty Taxes. Stamp duty St
Post# of 9964
Posted On: 02/03/2015 1:11:38 PM
Brazil Tax Stamp and Duty Taxes.
Stamp duty
Stamp duty
Brazil does not impose any stamp duties.
Custom duties
In addition to the State VAT (ICMS), the Federal Vat (IPI), and the PIS and COFINS-import taxes, the federal government also assesses custom duties (II) on the import of products into Brazil. The import duty is levied upon the nationalization of the goods. Rates vary according to the NCM code of each product, which is based on the Harmonized System codes (HS Codes). Typically an average rate for the II is 14%. The Import tax is not creditable for the importer, and may not be used offset other tax liabilities. There is no Import Duties on services. Imported goods are also subject to the Additional Freight Charge for Renovation of the Merchant Navy ("AFRMM"
levied on all imports transported via maritime freight. The AFRMM is levied on the freight charged by Brazilian and foreign navigation companies operating in Brazilian ports. Such charge is calculated on freight price at a rate of 25%. An exemption may apply for the ocean carriage of goods that originated from or were destined for ports located in the north or northeastern regions of Brazil.
http://www.deloitte.dbbrazil.com.br/show.aspx...KVYIE2sA==
I wonder if importing under the joint Venture umbrella some of the import taxes are avoided or possibly easing the exporting /importing process! there has to be a reason why they went this route. My guess is to speed up the process! any thoughts???
Stamp duty
Stamp duty
Brazil does not impose any stamp duties.
Custom duties
In addition to the State VAT (ICMS), the Federal Vat (IPI), and the PIS and COFINS-import taxes, the federal government also assesses custom duties (II) on the import of products into Brazil. The import duty is levied upon the nationalization of the goods. Rates vary according to the NCM code of each product, which is based on the Harmonized System codes (HS Codes). Typically an average rate for the II is 14%. The Import tax is not creditable for the importer, and may not be used offset other tax liabilities. There is no Import Duties on services. Imported goods are also subject to the Additional Freight Charge for Renovation of the Merchant Navy ("AFRMM"
levied on all imports transported via maritime freight. The AFRMM is levied on the freight charged by Brazilian and foreign navigation companies operating in Brazilian ports. Such charge is calculated on freight price at a rate of 25%. An exemption may apply for the ocean carriage of goods that originated from or were destined for ports located in the north or northeastern regions of Brazil. http://www.deloitte.dbbrazil.com.br/show.aspx...KVYIE2sA==
I wonder if importing under the joint Venture umbrella some of the import taxes are avoided or possibly easing the exporting /importing process! there has to be a reason why they went this route. My guess is to speed up the process! any thoughts???
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