Pay attention to the NCM classification. According to news released by the Federal Revenue Service, a company was fined for irregular importation.

In total, there were 37,300 boxes of natural latex medical-dental procedure gloves. registered with an irregular NCM code.

The company was fined and the infraction notice A tax assessment was issued demanding payment of the tax differences and legal surcharges totaling R$ 680 thousand.

A Correct classification of imported goods can save taxpayers/importers a lot of trouble. as discussed in this news article. 

With the exception of fraudulent cases, where the taxpayer/importer intentionally adopts a more favorable NCM classification for their goods, taxpayers sometimes make mistakes when classifying their products, making them susceptible to inspection and penalties from the Federal Revenue Service. 

Hence the importance of always having excellent advice throughout the import process, as it is not uncommon for errors regarding NCM classification to be misinterpreted by the tax authorities.

Source: Federal Revenue Service

News commented on by Michel Pereira,  Lawyer, graduated in Law in 2009 by FMU/SP. Areas of Expertise: Customs Law, Tax Law, and Corporate Law, OAB (Brazilian Bar Association):  295.435.