World Business News

A round up of the latest news for those doing business internationally

Brazil cuts several Import Tax rates

Zone(s): Brazil ¦ Sector(s): Taxation

[27 June 2014,]  By Mike Godfrey,, Washington: Brazil’s Foreign Trade Chamber (CAMEX) has announced that the ten percent import duty on wheat will be eliminated until August 15, 2014, and duties will be cut for capital goods and electronic goods. The cut for imported wheat, which came into effect on June 24, is intended to ensure an adequate supply of the commodity during the country’s off-season months. A zero rate will apply until August 15, or until a one-million ton quota is filled.