2023-07-22 13:10:00
The National Confederation of Industry (CNI) joined retail representatives in requesting that the government review federal exemption for imports costing up to $50. The Consignment Remittance program should come into effect in August and business associations have predicted a “disaster” for the Brazilian economy.
According to data presented by CNI, low-value imports jumped from US$ 800 million to US$ 13.1 billion between 2013 and 2022. Robson Andrade, president of CNI, says that this high volume of low-value imports harms not only trade, but also Brazilian manufacturers.
In industry alone, it is estimated that we will lose 500,000 jobs, which represents around R$ 20 billion by the end of the year. For you to have an idea, there are more than one million packages per day that are arriving in Brazil, with a value of up to US$ 50. This is reaching a proportion that will amount to R$ 60 billion per year.
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Andrade also said that these numbers were only recorded now because nobody was curious to analyze them.
Nobody knew, maybe six months ago, that we were picking up a million packages a day.
As a suggestion to the government, the CNI calls for tax parity on goods from abroad with those produced in Brazil. That is, the imported product needs to pay the same amount of taxes as one that is produced on national soil.
Flávio Roscoe, president of the Federation of Industries of the State of Minas Gerais (Fiemg), also opposed the exemption.
This practice puts the product marketed in Brazil at a huge disadvantage. The benefits for domestic and imported products need to be equal. You cannot compete with those who are not taxed.
Government must evaluate data
In response to the businessmen’s demands, the executive secretary of the Ministry of Finance, Dario Durigan, promised to look into the situation.
We received the states and we are going to do a careful analysis with the recipe to assess the impacts.
As much as the government does not admit it, behind-the-scenes conversations say that part of the economic team already admits to going back on the federal exemption for purchases of up to US$ 50.
For those who don’t remember, the Consignment Remittance program provides for the collection of 17% ICMS on goods with that value. The tendency is for the government to look for a middle ground.
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