Brazil: Federal Senate unifies the VAT rate over interstate transfers of imported goods
01 July 2012
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| Nélio B Weiss |
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Philippe Jeffrey |
The Brazilian Senate published on April 26 2012, Resolution No. 13,
establishing that the rate of the VAT – "ICMS" shall be 4% in interstate
operations with imported goods and merchandise which, after their
customs clearance:
Have not been subject to an industrialisation process; orEven if subject to any process of transformation, processing,
assembly, packaging, repackaging, renewal or reconditioning, result in
merchandise or goods with importation content higher than 40%.
The above provision does not apply to: (a) imported goods and
merchandise that do not have a...
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