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[BUSINESS] · Brazil · 100 sources

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Brazil Congress approves tax exemptions for international purchases up to US$ 50

The Brazilian Congress has approved a Provisional Measure (MP) that significantly alters the taxation of international postal purchases. The new rules will eliminate the 20% import tax on international shipments valued at up to US$ 50. For purchases valued between US$ 50 and US$ 3,000, the import tax rate will be reduced from 60% to 30%.

Key provisions of the approved text include a total tax exemption for imported medicines that do not have a similar version manufactured within Brazil. Additionally, the Ministry of Finance is tasked with conducting periodic economic impact assessments to monitor the effects on employment, income, and the competitiveness of national industry and retail. The first assessment is scheduled to occur three months after the measure takes effect, with subsequent reviews every six months and an annual review by Congress.

To prevent fraud and the improper use of these benefits, the Executive branch is authorized to establish limits on the quantity and frequency of purchases allowed for individuals. While federal import taxes are being reduced, state-level ICMS taxes will continue to be applied normally. The measure must be finalized by Congress before September 8 to remain valid.

Entities

AliExpress · Braskem · Brazil · Brazilian Chamber of Deputies · Brazilian Congress · Brazilian Senate · Chamber of Deputies · Cid Gomes · Congresso Nacional · Correios · Davi Alcolumbre · Hugo Motta

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