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