Haddad says he will discuss with the retail sector a change in the 60% import rate By Reuters

Haddad says he will discuss with the retail sector a change in the 60% import rate By Reuters

2023-05-27 00:50:33

© Reuters. Brazilian Minister of Finance, Fernando Haddad, at a meeting at the Alvorada Palace, in Brasilia, 5/2/2023 REUTERS/Ueslei Marcelino

SAO PAULO (Reuters) – Finance Minister Fernando Haddad on Friday raised the possibility of a change to the simplified 60% import tax rate for parcels, as part of measures to curb illegal actions allegedly taken by international retailers. .

Some Asian marketplaces committed in April to a compliance plan with the government and the IRS. At the time, the understanding came after days of noise between the parties, since the government’s initial idea was to end an exemption of up to 50 dollars in international orders between individuals.

The government, however, which accuses companies of illegally using the benefit to sell cheaper products in the country, gave up on ending the exemption, after criticism from consumers, and said it would try other alternatives to the issue.

Asked this Friday about the matter, Haddad indicated that one of the solutions could be a change in the rate of 60% in the import tax on so-called international remittances, which include purchases by local consumers of products sold abroad. The fee is based on the value of the goods plus freight and insurance.

“Today it is (60%), but we are going to discuss with the sector a transition in which this issue will be discussed to bring the system to legality. What I cannot keep is this situation as it is”, he told GloboNews.

According to the minister, it will also be necessary to involve States in the discussion, due to the collection of ICMS (Tax on Circulation of Goods and Services).

In the last two months, Shein announced an investment plan of 750 million reais to produce in Brazil in the coming years and Shopee inaugurated two new distribution centers, the first in the Northeast region.

Haddad reiterated this Friday that the compliance plan with marketplaces provides that the measures have no impact on consumer prices, a promise that Shein also made when it announced its investment plan, although there is distrust in the market about the execution of this strategy.

(By Andre Romani)

#Haddad #discuss #retail #sector #change #import #rate #Reuters


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