Levied at 1,65% and 7,6% rates respectively for many years, contributions PIS/Pasep and COFINS on imports will undergo a significant increase from May 1, 2015 on-wards, according to the terms of Provisional Measure 668/2015.
Only service imports remain with the previously defined rates – all operations with product imports now have increased rates. General product imports had its PIS/Pasep rate increased to 2,1% and COFINS rate increased to 9,65%.
Specific products that were already subject to special PIS/Pasep and COFINS rates were also adjusted, according to the table below:
Finally, that Provisional Measure also forbids taxpayers from recording credits from the additional COFINS Imports 1% levied on products listed in Law 12.546/2011.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.