Brazil’s Ministry of Economy has issued a release announcing an additional 10% reduction in the import tax of products defined as Capital Goods (BK) and IT and Telecommunications Goods (BIT).
A 0% import tax rate has been approved for basic food products, including ground coffee, margarine, cheese, pasta, soy oil, and sugar. A 0% import tax rate has also been approved for ethanol.
The measures were published in the Official Gazette on 23 March 2022 and apply from that date with respect to basic food and ethanol products and from 1 April 2022 for BK and BIT products.
Source Orbitax
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