New rules exempt companies from paying taxes on up to $50

2023-06-30 11:39:00

The government announced this Friday (30) that it will exempt international online purchases up to the value of $50 from import taxes, provided the companies adhere to a program implemented by the Internal Revenue Service and pay state taxes as indicated. The new regulation was published in the Federal Official Gazette by the Ministry of Finance.

This is a relevant change, since, previously, all imports purchased through e-commerce were taxed, regardless of their value. The exemption from tax import for amounts below $50 was only applicable to international shipments made between individuals, therefore excluding all companies.

However, the new rules specify that online purchases of up to $50 made at companies that do not follow government rules will continue to be taxed. The new rule will come into effect on August 1.

How will the new rules work?

Imports have new rules

The program requirements to which companies must adhere were also disclosed by the Ministry. To facilitate compliance, the normative instruction establishes some obligations for companies in the e-commerce area. These include the transfer of taxes collectedthe presentation of detailed information on tax amounts and other consumer expensesa indication of the company’s name and brand on the package sent to the consumer in a visible way, as well as the obligation to fight once morest embezzlement and smuggling.

For purchases of up to $50 to be exempt from Import Tax, the Treasury also required companies to collect ICMS (Tax on Circulation of Goods and Services). This rule only applies to purchases made on e-commerce platforms, whether domestic or foreign.

When do the new rules take effect?

The Federal Revenue will be responsible for preparing periodic reports to monitor adherence to the program and propose changes to the differentiated rate, if necessary. The regulation will come into force on August 1, 2023.

Summary:

Businesses will be able to ship products directly to customers; Businesses need to present product and store information on the shipped package; Companies need to collect ICMS; that is, the exemption will only be from federal taxation; Companies will have a system called Siscomex Remessa, in which they will have a contract with the ECT company (Correios) and will insert all purchase data in advance. The new rules come into effect on August 1, 2023

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