ICMS Tax Benefits

The ICMS is one of the taxes that make up the cost of imports, being the only statewide tax. With the amendment of Constitutional Amendment 33/2001, there were significant changes to the National Tax System, giving the States and Federal District the option of changing the ICMS rate, thus initiating the so-called “fiscal war” of ICMS between Brazilian states.

In this way, states, seeking to attract companies and consequently investments, jobs and income, offer ICMS tax benefits and incentives, such as: exemptions, deferrals, reduction of aliquots, calculation basis, etc.

Many Brazilian states now offer benefits in ICMS tax collection on imported Goods Receipt, each state with its rule and condition to obtain these benefits.

Although attractive, these benefits impose specific conditions and parameters. It is therefore necessary to have specialists in the field. With years of practice in foreign trade, Ultracomex offers its expertise in tax planning and ICMS reduction for the benefit of its clients.

Watch the next video and understand a little more about the ICMS Benefits: