Any import tax can be deduct or refund?
the IPI, ICMS, PIS, COFIS can be deducted or refunded by somebody? or can be switched to the customer, like the VAT?
thx!
posted
Mauro
Mimmino
1 Answer
The rule of thumb is that you do not get refund on taxes in Brazil, however ICMS is a value added tax similar to the VAT in Europe and are only calculated upon the increased value of each transaction.
There are also special financial and tax incentives available for foreign investment like:
- Tax deductions for imported capital goods not available locally.
- Special regime for the acquisition of capital goods which suspends taxes on new machines, instruments and equipment imported by companies that commit for a period of three years to export a certain level of goods and services.
- Special tax incentives for technological innovation.
