Brazil is an important player in the international jewelry market because of its variety of precious, semi precious and non precious stones and metals. This article informs what is required to import jewelry to Brazil and the taxes charged upon this activity.
The Industry of Jewelry in Brazil
Brazil is internationally recognized by its diversity and by having precious stones in its national territory. The country is the second biggest producer of emeralds and the only producer in the world of imperial topaz and paraiba tourmaline. Brazil also produces citrine, agate, tourmaline amethyst, aqua marine beryl, topaz and quartz crystals.
The country is responsible for the production of almost 1/3 of the gems of the world, with the exception of diamonds and rubies, and is also considered an important gold producer. The production of precious stones is mainly concentrated in the states of Minas Gerais, Rio Grande do Sul, Bahia, Goiás, Pará and Tocantins.
Brazil may be a important producer and exporter in the market of precious stones, gems and others, but the country also needs to import the same products from other countries. Brazil depends on imports because the international market requires that exporter countries, such as Brazil, commercialize not only national jewels, but also jewels from other countries.
Procedures to Import Jewelry to Brazil
The process of jewelry importation has been streamlined in order to attend the demand of the international jewelry industry, the national lapidary industry and exports. Most part of the products have specific rules and specific organizations and agencies responsible for monitoring their import activity and sometimes their quality, but the jewelry importation to Brazil is different.
To import this products, it is necessary to follow the general steps established by the Brazilian legislation and international commercial terms, also known as Incoterms, a list of terms responsible to guide trade among countries of the entire world.
General Steps to Import products to Brazil
If a company is interested in importing any type of product to Brazil, the steps below must be followed:
- Siscomex register: this is the first step to import something to Brazil. The importer must register in Siscomex in order to obtain an import license.
- Licenciamento de importação: this is the license provided the Ministry of Development, industry and Foreign Trade that allows the importation of a product to Brazil. The LI must be acquired before the product is shipped to Brazil.
- Import Declaration.
- Custom clearance and verification of the good.
- Tax Payments: IPI, Pis/Cofins and ICMS.
|Type of Jewelry||Import Duties|
|Rough Stones|| 8% temporary reduced to 2% |
|Polished Stones|| 10% temporary reduced to 2% |
|Raw Silver|| 6% |
| Rough Platinum, Palladium and Rhodium || 2% |
|Precious Metal Bars|| 12% |
|Gold Jewelry, Leafed and Imitation of Jewelry||18%|
|Type of Jewelry||IPI Rate|
|Natural and Cultivated Pearls||24%|
|Alloying of Precious Metals||zero|
|Precious Metals Jewelry and Leafed||12%|
|Imitation of Jewelry||12%|
PIS/Cofins and ICMS
This three taxes can vary a lot:
PIS are charged between 1.65% to 3.65% rates.
Cofins could be charged 3% to 7% rates.
Since ICMS is a state taxes, its value changes depending on the state ICMS is being charged.
International Commercial Terms
To import jewelries the Incoterms must be followed
- Cost and Freight (CRF)
- Cost, Insurance and Freight (CIF)
- Carriage Paid to (CPT)
- Carriage and Insurance Paid to (CIP)
- Delivered At Frontier (DAF)
- Delivered Duty Paid (DDP).
- Delivered Duty Unpaid (DDU)
- Delivered Ex Quay (DEQ)
- Delivered Ex Ship (DES)
- Ex Works (EXW)