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Tax Overview
Municipal tax levied upon the transfer of real estate property over the value of the transaction. The relevant rates are set by the Municipalities and typically vary between 2% to 3%.
4.5. Donation and Transfer Tax (ITCMD)
Donation and Causa Mortis Transfer Tax (ITCMD) is a State tax, levied over donations and transfers of assets resulting from death. The ITCMD rate is set by the competent State and typically varies between 4% and 8% over the donation or heritage.
5. Other Taxes and Contributions 5.1. Import Duty (II)
Import Duty (II) is a Federal tax levied upon importation of assets, triggered upon custom clearance, over the customs value of the imported product including insurance and international freight (CIF value), added by port and other charges.
II rates vary according to the Tariff Classification of the goods.
5.2. Export Tax (IE)
An Export Tax (IE) is due at the time of export. The tax applies on an ad valorem basis to a limited list of products. The tax rate varies, depending on the type of product exported; however, currently the IE is generally benefited with a zero reduced rate.
5.3. PIS/COFINS – Import
Federal Welfare Contributions (PIS and COFINS) are also levied on importation of goods and services.
For goods imported, PIS is levied at 2.1% and COFINS at 9.65% over the CIF value upon custom clearance. Additional 1% COFINS rate may apply over listed assets.
For importation of services, PIS applies at 1.65% and COFINS at
7.6% over adjusted tax basis, and paid upon the payment, credit or remittance of the service fees abroad.
5.4. Additional on Freight for the Renewal of the Merchant Marine (AFRMM)
Additional on Freight for the Renewal of the Merchant Marine (AFRMM) is a Federal contribution to the economical domain aiming at enhancing the maritime and naval construction activities in Brazil.
The AFRMM is due over the freight charged on import voyages (25%), cabotage (10%) and certain inland navigation (40%) upon the discharge of the goods on Brazilian ports.
Note that, up to January 8, 2022, the AFRMM will not levy over cabotage and inland navigation (except from liquid bulk) destined to the North and Northeast Regions.
5.5. Technological Contribution (CIDE)
CIDE is due on the payment, credit or remittance to non-residents of fees
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