Brazilian Ports War triggers new legislation for inter-state transactions
15 November 2012
Renata Correia Cubas, of Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados, explains why state VAT incentives for imported goods are causing problems for Brazilian taxpayers.
Brazilian taxpayers have sought a reduction in state VAT
incentives granted to import transactions, and also in the tax
credits arising from inter-state transactions of imported goods
in recent years.
Under Brazilian law, the state VAT rate applied to inter-state
transactions is between 7% and 12% depending on the states
Payment of the VAT generates a tax credit against the state
of destination of those goods, which is often not fully charged
in the state of origin upon customs clearance of the goods.
Most states offering incentives...
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