Hello, does anyone know if there's a special import tax for bringing gold and silver coins into Brazil or does it fall under foreign currency where amounts higher than R$10.000,00 or equivalent must be declared?
Import tax on gold and silver coins
stonywarso
15 June 2020 16:01:37
2
GuestPoster204
16 June 2020 09:34:31
0
Well, it´s a little complicated if you analyze the importation of precious metals/coins in gold and silver. It falls on 4 category of taxation:
1. Imposto de Importação (IPI) - 15%
2. Imposto Sobre Produto Industrializado (being coins minted) - 10%
3. Taxa de Movimentação Financeira
4. ICMS (Imposto sobre Circulação de Mercadorias e Serviços) Ha ha!
Best to research this well!
robal
abthree
16 June 2020 15:29:14
5361
To make matters worse, the taxes are imposed sequentially, and the value of some preceding taxes becomes part of the base for calculating later ones, with ICMS coming last.
GuestPoster204
16 June 2020 15:40:32
0
abthree wrote:To make matters worse, the taxes are imposed sequentially, and the value of some preceding taxes becomes part of the base for calculating later ones, with ICMS coming last.
Ha ha! Yes, they will add all the 3 categories with the state´s ICMS coming last providing the final blow.
"Imposto em cascata" coming into play! A product for example after it gets to the hand of a consumer could have already been taxed 4 times starting at the raw material it was made of... Welcome to Brazil!
robal
chistletoe
16 June 2020 15:40:44
34
I am pretty sure that they wont tax them if they dont see them. Gold and silver coins are always subject to personal interpretation, every agent is going to have his own opinion. Gold is one of Brazils important exports, also jewelry and precious stones, so they do not appreciate it being brought back in. With the real forex rate fluctuating like it is, sometimes a single one ounce coin has value over 10,000 reais in the right market. I suspect you run some risk of pretty high tariffs and some risk of confiscation. But its not what they are keenly looking for, either, so ....l.
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