It provides for the adaptation of the Table of Incidence of the Tax on Industrialized Products (TIPI) to the changes that have occurred in the Mercosur Common Nomenclature (NCM).
It is known that the use of the NCM (Mercosur Common Nomenclature) is indispensable for the correct definition of the taxes levied on a given transaction, so any error in its completion may generate a possible review of its adequacy and, consequently, an increase in the tax burden with the application of fines to the taxpayer, even if the taxpayer is acting in good faith.
For those operating in foreign trade, greater care is recommended when defining which NCM (Mercosur Common Nomenclature) code will be used in their imports. Analyzing Executive Declaratory Act (ADE) RFB No. 4/2021 is of paramount importance, as the changes resulting from its content may interfere with the routine of some importers.
Compliance with the aforementioned Act is necessary due to the numerous changes occurring within the Brazilian Federal Revenue Service regarding the tax rates applicable to certain products imported by operators in the field.
Although the changes resulting from this Act do not directly affect the progress of some operations, other changes may occur, which, at some point, could interfere with the rates of the Tax on Industrialized Products and the Import Tax on certain goods, implying that international trade operators must always be aware of the various modifications.
Therefore, it is essential to have the support of a specialized team to assist operators in the field in seeking to reduce the tax burden on the products they import, since, often, even when operations are conducted in good faith and contain elements that specifically classify their goods under a particular NCM (Mercosur Common Nomenclature), they end up suffering from misinterpretations by the Public Administration.
Source: Federal Revenue Service
News commentary by Gian Lucca Jorri, Lawyer, graduated in Law in 2016 from the Catholic University of Santos / SP., Specialist in Customs and Tax Law.
OAB/SP No. 404.759
