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Brazil updates ICMS VAT rules on imports and inter-state sales

  • Jun 27, 2013 | Richard Asquith

Brazil updates ICMS VAT rules on imports and inter-state sales

To help reduce the compliance burden on Brazilian importers, a number of changes to the complex national and state indirect tax system (ICMS) have been introduced. Brazilian ICMS is levied at approximately 4% of the value of imports subsequently then transported across state borders.

  • Simplification of draw backs, deferrals and exemptions
  • There is a new definition of costs and taxes due on imports to clear up some misunderstandings
  • Companies will no longer have to declare the import value of goods and subsequent inter-state movements to retain commercial confidentiality from their eventual customers

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara