Provisional Measure (MP) nº 563/2012, in a deployment of the Brazilian Federal Government´s program called “Brasil Maior” (a plan in-depth to provide incentives to productive sector).
The MP nº 563, brings some changes, among which: new incentive programs; changes to existing programs, punctual exonerations; transfer pricing application rules and changes to Cofins-Import rate.
According to the new disposals brought by MP 563/2012, Cofins on Importation rate has now been increased to 1% (one percent), which will correspond to a total of 8,6% (eight point six percent), regarding import operations with the products listed at the appendix to Law nº 12.546 of 2011, which includes plastics, rubber made products, leather, textiles, several mechanical instruments and appliances, boats and floating structures, electrical equipments, among others.
The provisions are effective beginning on August, 01st
In view of the changes above, it remains true that the possible impacts of these tax measures, , should be viewed with due caution, not ruling out the need for monitoring the conduct of the MP 563 / 2012, as well as eventual acts of the Federal Revenue of Brazil that could be edited concerning the matter in analysis.
For further information, please contact:
Roberto Cunha, firstname.lastname@example.org
+ 55 (11) 2183-3118
Elson Bueno, email@example.com
+55 (11) 2183-3281
Murilo Mello, firstname.lastname@example.org
+55 (11) 2183-3621