What is ICMS?

I would like to know what is ICMS and what are its rates.

posted 2 years ago by
Neal Lawrence

Neal
Lawrence

2 Answers

ICMS is a State tax, and varies depending on your industry and State you are doing business with. What's your industry or products?

ICMS in Sao Paulo is the highest 7%-25% (generally it averages 18%) and could give you a general/broad idea of what you would pay in ICMS elsewhere in Brazil.

You could consider 18% which would be included in the product price. However, if your product is basic necessity (e.g. food) the ICMS is 7% and products such as cigarrete and alcohol IRCM is as high as 25%. For technology you could consider 18%

posted 2 years ago by
Guilherme (Gui) Alvarenga

Guilherme (Gui)
Alvarenga

ICMS is a state tax for goods and services. The tax is payable at all stages of sale from manufacture to consumer.

The ICMS tax rates range from 7% to 25%.

ICMS is the abbreviation for: "Imposto sobre Operações relativas à Circulação de Mercadorias e Prestação de Serviços de Transporte Interestadual e Intermunicipal e de Comunicação"

posted 2 years ago by
Cynthia Fujikawa Nes

Cynthia
Fujikawa Nes


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