The government provides a 28% tax on purchases up to $50

The Federal Government considered a tax rate of 28% to estimate potential revenues in 2024 on purchases of imported products worth up to US$50 under the Remessa Compliance programme. The taxes are contained in a technical note from the Federal Revenue Service that is used as a reference for preparing the draft annual budget law (PLOA) for the coming year. The information was first published by the portal “Gota“.

Today, purchases up to $50 (including shipping) are exempt from import tax if purchased through businesses that have signed up for Remessa Compliance. Above this value, the rate is 60%, which, when added to the incidence of government ICMS, results in an additional cost of 92% in relation to the purchase value. Among the companies included in the program: AliExpress, Mercado Livre, Shein, and Shopee.

If the import tax rate of 28% is confirmed on purchases up to US$50, the total tax, including ICMS, will be 54.21% for this category of products.

The Ministry of Finance had already indicated the possibility of ending the exemption as a way to increase revenues and establish fairer competition with national retailers. In September, during a press conference, the ministry’s executive secretary, Dario Dorrigan, said that next year’s revenue bill for the program would have taken into account the 20%.

In Business Plan 2024, the government estimates revenues of R$2.8 billion from Remessa Compliance. In the calculations on which the technical note was based, in addition to the 28% as a reference, a 30% reduction in imports is assumed. In the scenario where purchases from abroad decline further, the revenue increase in 2024 would amount to R$1.2 billion.

The Ministry of Finance learned, in a memorandum, that the percentage that will actually be applied starting next year has not yet been determined. “These estimates were made in a scenario where there was no reliable information about this economic sector. Through the compliant transfer programme, with the accreditation of major companies in this sector, it will be possible to obtain the most accurate information to evaluate the appropriate tax rate.

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