BRASILIA : Brazil's Finance Ministry announced on Friday an exemption from federal taxes on e-commerce purchases up to $50 for companies participating in a new compliance program by the tax revenue service. The program comes amid the country's attempts to close a loophole that some Asian e-commerce giants
BRASILIA : Brazil's Finance Ministry announced on Friday an exemption from federal taxes on e-commerce purchases up to $50 for companies participating in a new compliance program by the tax revenue service.
The program, starting Aug. 1, offers faster and cheaper customs treatment for e-commerce companies that voluntarily meet criteria set by the government, the ministry's statement said. Taxes, if applicable, are currently paid by consumers after the arrival of the merchandise, following analysis and notification by the revenue service, resulting in longer delivery times.
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