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Tax cut that would affect Apple products delayed

Last month we reported that President Jair Bolsonaro indicated the possibility of reduce from 16% to 4% Import duties on information technology products such as computers and mobile phones would certainly affect Apple products. Now that idea has, at least for now, been postponed.

According to the Senate Agency, Senator Eduardo Braga (MDB-AM) reported that he was meeting with representatives of the Ministry of Economy and that the government decided to suspend until end of august month the effects of Ordinance 309/2019, which establishes new rules for the reduction of the import tax rate on capital goods and computer and telecommunication goods.

The reason for the postponement was the criticism of two-sector industries during a meeting of the Economic Affairs Committee (CAE). According to them, the norm can hinder national production and affect thousands of jobs. Because of this, Senator Jos Serra (PSDB-SP) then decided to present a draft legislative decree (PDL 471/2019) to overturn the ordinance. By August 30, then, the government also according to Senate Agency try to reach consensus.

One of the points questioned was the article that states that if the product made in Brazil is at least 5% more expensive than the imported one, it will not be considered as national similar, paving the way for importation with tax benefit.

it was too good to be true

via Tecnoblog