It is well known that Brazil has one of the highest tax burdens, with rates varying according to the product being imported and the tax classification to be adopted, since Brazil follows the Mercosur Common Nomenclature (NCM) system, originating from the Harmonized Commodity Description and Coding System.

Regarding operations import The following taxes are the main ones that apply:

• Import Tax (II) – its main function is to regulate international trade, with rates varying from zero to 35%;

• Tax on Industrialized Products (IPI) – also applies to products manufactured by Brazilian industry, with rates varying from zero to 20%;

• Social Integration Program (PIS) – this is a contribution for social purposes, with a single rate of 2.10%;

• Contribution for Social Security Financing (COFINS) – like PIS, this is also a federal contribution, intended to finance social security, with a single rate of 9.65%

• Tax on the Circulation of Goods and Services (ICMS) – among all taxes levied on imports, this is the only state tax, with each state having its own rates, since a kind of "fiscal war" prevails in Brazil with the aim of attracting new companies;

The tax base for the aforementioned taxes is, as a rule, the customs value of the goods, which is composed of the sum of the value of the goods, freight, and insurance.

To assist importers, the Federal Revenue Service provides the following on its website. site A simulator of the tax and administrative treatment of imports, allowing the taxpayer to "obtain information regarding the tax and administrative treatment to which the import of a specific good is subject, at the time the query is made".

Finally, according to information extracted from the Federal Revenue Service website, the payment of taxes and contributions due on imports will be made at the time of registration of the Import Declaration or its rectification, through an electronic Federal Revenue Collection Document (DARF), via automatic debit from a bank current account to be indicated by the taxpayer.

Source: Federal Revenue Service

News commented on by Juliana Perpetual, Lawyer, graduated in Law in 2003 from the Centro Universitário das Faculdades Metropolitanas Unidas – FMU. Areas of expertise: Customs Law, Tax Law, and Criminal Law. OAB (Brazilian Bar Association): 242.614

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