However, even though it cannot be compared to the values of Import Tax and Tax on Industrialized Products, in times of economic crisis, such as the one we are experiencing, every opportunity to reduce companies' operating costs is welcome. This allows companies to have more cash on hand, either by reducing costs in future operations or by having the possibility of recovering amounts already paid.

The small amounts charged individually for each import can add up to quite significant figures when analyzed over the 5 (five) years eligible for reimbursement, often reaching millions.

Pay attention and take advantage of this benefit; you may have much more to receive (or avoid paying) than you imagine.

News commented on by Fabricio Norat, Lawyer, graduated in Law in 2014 by FMU/SP. Area of Expertise: Customs Law, Tax Law. Brazilian Bar Association (OAB): 431.023.

Source: Conjur ; Jota ; Supreme Federal Court

In times like these, it is of utmost importance to have legal and technical advice regarding the care and attention given to issues faced daily in international trade.