Government reduces import tax for medicines and 12 other products

On July 15, Gecex/Camex, which is the Executive Management Committee of the Foreign Trade Chamber, approved the import tax reduction for products such as medicine, contact lenses, among others. In total, thirteen products were contemplated. Check now the details about this novelty that even zeroed the tax for some items, while others had a reduction of up to 6.5%.

Read more: Gas voucher of R$ 120 is approved; Will the government release the monthly benefit?

Import Tax Decrease

One of the claims that were approved by Gecex zeroed import rates for medicines that contain the substance olaparib, which are commonly used in the treatment of ovarian, breast and prostate.

In addition, the tax for drugs containing olodaterol hydrochloride and bromide was zeroed. tiotropium monohydrate – a bronchodilator used in the treatment of Chronic Obstructive Pulmonary Disease (COPD).

Reduction in export rates for medical devices

The rates of two medical devices were reduced from 16% to 0%, one being endovascular, which is generally used to dissolve and eliminate thrombi, and the other another necessary to perform robotic-assisted endovascular surgeries, which include the use of coronary catheters and stents, for example.

Other products contemplated by the Import Tax reduction

Other items contemplated with the tax reduction were the following: high tenacity polyester yarn, a type of solar filter, extract of hops, an electrode fixation system on the skull aimed at cases of Parkinson's disease and a valve prosthesis system cardiac. The rates for these products were zeroed, and previously ranged from 8% to 18%

Black and colored inks intended for printing books, as well as hydrogel-type silicone contact lenses, had their rates reduced to 2%. Furthermore, polypropylene resins were included in Letec (List of Exceptions to the Common External Tariff of Mercosur) and had the tax reduced to 6.5%.

Ex-tariff regime - Benefits

The Import Tax reduction for these products was approved with the inclusion of Ex-tariff, which is a type of regime whose objective is to encourage investments in the country's industry, in order to improve the market and the economy Brazilian. In this way, the Ex-tariff is an efficient way to benefit importers.