Government confirms taxing imports below US$50, you and I will pay more

2023-11-29 12:03:56

The Brazilian government confirmed taxing imports worth less than US$50, according to vice-president Geraldo Alckmin. Currently, only purchases above this amount are taxed.

The statement was made during a meeting of the Ministry of Development, Industry, Commerce and Services. However, no further details about this taxation have yet been released, nor a deadline for its implementation.

Implications for consumers

Not moment, imports up to US$50 are exempt from taxes, except for ICMS, a state tax that corresponds to 17% of the value of the products. Above this value, a fee of 60% is applied to the final value of the product.

The possibility of taxing imports below US$50 did not please consumers, who expressed concern and indignation on social media.

It is important to highlight that the Remessa Compliance program initiative is already being adopted by several e-commerce companies, such as AliExpress, Shein, Shopee, Mercado Livre and Amazon, on a voluntary basis.

When does it start and how much will it be taxed?

However, there is still no official decision from the government on taxing international purchases below US$50.

There is also still no formalized date for taxation on all purchases to take effect, with the hole in public coffers and the urgent need for revenue, we think it should start soon.

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The news was previously released by Oficina da Net in October, confirming the Federal Revenue’s proposal. However, Alckmin has not yet specified the exact rate, estimated at between 20% and 40% of the purchase value.

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