The government should temporarily eliminate import tariffs on new products.

The federal government is expected to make further cuts to import tax, temporarily reversing some of the tariff increases implemented throughout this year, as reported by Reuters on Tuesday (17). According to the secretary of Industrial Development Ministry of Development, Industry, Trade and ServicesUallace Moreira, the reduction of tariffs for A zero tax rate will be granted immediately., for a period of up to four monthsThe benefit will be granted in cases where companies demonstrate that… absence of domestic production of the affected itemsThis opens a period for the government to assess the consistency of the requests and decide on maintaining the cut. The measure applies to products that previously had tariffs. less than 7.2% and that, with the new rule, they have become subject to taxation at that level. Companies may submit their requests until March 31when the requests will be forwarded to Executive Management Committee of the Foreign Trade Chamber (Camex)At the end of February, the government had already implemented a similar adjustment, reversing the tariff increase to 125 productsOf that total, 105 items have returned to having a zero tax rate., while 15 had their definitive reduction confirmed.The remaining cases are still under review to determine the feasibility of maintaining the benefit in the long term.

This text was translated by machine from Brazilian Portuguese.