Brazil decided to exempt 628 kinds of machinery and equipment from import duties.

[Brazil decides to exempt 628 kinds of machinery and equipment products from import duties] FIFA, May 10 (Xinhua)-- the Executive Committee of the Brazilian Foreign Trade Commission decided on the 9th local time to exempt 628 kinds of machinery and equipment products from import duties until December 31, 2025. The committee said the tax exemption would allow companies to import machinery and equipment products worth more than $800 million, benefiting companies from industries such as metallurgy, electricity, gas, carmaking and paper. It is reported that of these 628 kinds of machinery and equipment products, 564 are manufacturing and 64 are information technology and communications. Before the introduction of the duty-free policy, Brazil's import tariff on such products was 11%.