Brazil Reduces Tax Rate on Several Capital Goods to Zero
RIO DE JANEIRO, BRAZIL – A decree from the Ministry of Economy extends the list of capital goods that will see their import tax rate reduced to zero. Capital goods are machinery, tools, facilities, and other types of equipment used to manufacture consumer products. The measure was published in the Federal Gazette yesterday, August 2nd.
Through this decree, which will come into force within two days, the government intends to render such equipment, which is not produced in Brazil but is necessary for the modernization or increase of industrial production, more accessible to the sector. The government had already published a similar decree in May.
Among the equipment cited by the decree, there are several types of boilers, engines, excavator elevators, motor pumps, centrifuges, rotors, furnaces, heads, plates, hydrolysers, dryers, laminating machines, rotaries, filters, labelers, packing machines, scales, batchers, enamellers, washing machines, winches, propellers, cranes, forklifts, fairings, belts, peelers, polishers, grinders, kneaders, mashers, toasters, slicers, saws, shredders, printers, cylinders, lathes, perforators, presses, mills, mixers, pavers, braiders, crushers, gears, ultrasound, cables and even automatic espresso coffee machines.
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