Understand how the Import Tax (II) works

Import Tax (II) is a federal tax levied on foreign goods. It is levied upon the entry of these goods into the national territory, specifically on the date of registration of the Import Declaration (DI) for dispatch of consumption. It is applied in international purchase and sale transactions (direct import), both for resale and for use as input.

How is the calculation made?

The calculation of Import Tax is based on the Customs Value of the goods. This value is determined according to the rules of Article VII of the General Agreement on Tariffs and Trade (GATT 1994) and includes:

1. Price of Goods: The amount paid or payable for the product.

2. International Freight: Cost of transportation to Brazil.

3. International Insurance: Value of the cargo insurance premium.

4. Other Expenses: Costs incurred until arrival at the customs clearance location (e.g., stevedoring, initial handling).

The correct declaration of Customs Value avoids fines and delays.

In practice: Here’s an example!

Let’s say a company imported 1000 LED bulbs from China.

• Price of Goods (FOB): US$ 5.00/unit = US$ 5,000.00

• International Freight: US$ 800.00

• International Insurance: US$ 100.00

• Other Arrival Expenses: US$ 50.00

1. Customs Value: US$ 5,000.00 + US$ 800.00 + US$ 100.00 + US$ 50.00 = US$ 5,950.00

2. Import Tax Rate: The Import Tax Rate varies according to the Common Nomenclature of Mercosur (NCM) of the product. For LED Lamps (NCM 8539.52.00), the current rate is 9.6%.

• Import Tax: 9.6% of US$ 5,950.00 = US$ 571.20

The amount will be converted to Reais at the exchange rate on the day the Import Declaration (DI) is registered. The II also forms the basis for calculating other taxes such as IPI, PIS and COFINS.

BR Company: Complete Solution for Foreign Trade

Accurate calculation of Import Tax and compliance with customs regulations require knowledge. Errors can generate costs and delays.

BR Company acts as your freight forwarder and customs broker, offering a complete solution: from international freight management to customs clearance, ensuring compliance, agility and cost optimization.

Talk to our experts and optimize your operations!