What is the duty rate for illuminated signs, category 9405.60.00?
I have been asked to manufacture 4 LED commercial advertising signs in China for a business in Brazil. We need to know the duty rate in order to import these 4 illuminated signs into Brazil. Can you please advise the duty rate for that category that we feel is 9405.60.00?
Thank you.
Gary R. Weiss w4sons@yahoo.com
posted
Gary
Weiss
1 Answer
Dear Gary,
The import duties and NOMINAL taxes payable when importing these goods into Brazil are:
- Import Duty: 18%
- IPI: 15%
- Pis: 1,65%
- Cofins: 7,60
- ICMS-SP (IVA/VAT): 18%
The import duty is applicable over import goods only while all other taxes are the same to products made in Brazil too. However, there is a 'equation' for calculation of the above duties/taxes and the result applicable over the CIF value are the following:
- Import Duty: 18%
- IPI: 17,70%
- Pis: 2,36%
- Cofins: 10,87%
- ICMS-SP (IVA/VAT): 32,69%
Then the total amount of the duties/taxes paid 'at sight' for clearance of the goods for these produtcs is: 81,62%
For this example, the ICMS of 18% is for the State of São Paulo. Others States such as Rio de Janeiro, Parana, Santa Catarina, etc will have diferents percentages.
Hope this information can help!
posted Anderson
Neves
