São Paulo — Brazil has decided to scrap the 20% import tax on jet skis, balloons and non-motorized aircraft, a decision of the Chamber of Foreign Trade (Camex), part of the Economy Ministry.
Non-motorized aircraft include balloons and dirigibles, gliders, hang gliders and paragliders.
The measure will come into effect later this month.
Other changes introduced by Camex include the reduction of import tax for vehicles for a period of up to two years, with a tax reduction granted to automobiles and light commercial vehicles with up to 1.5-ton cargo capacity, either disassembled or semi-assembled, and without equivalent domestic production.
The import tax rate for vehicles will be 18% for semi-assembled and 16% for disassembled.
The tax reductions can be obtained from the Economy Ministry’s Secretariat for the Development of Industry, Trade, Services and Innovation, via its Electronic Information System (SEI), by December 31, 2022, although the deadline may be subject to an extension, according to Camex.