The government certifies Magalu as a member of the import tax exemption program

The federal government has certified Magazine Luiza as a Remessa Compliance member, a program that exempts purchases of up to US$50 from abroad from import tax in exchange for payment of an ICMS of 17%. The decision is published in Official diary of the Union this Monday (11).

The company submitted a request to join the program in October. At the time, the retailer said that with the move, it would be able to manage products in different categories that come from other countries, adding to its portfolio.

“We will take the opportunity to bring in products and brands that are not in Brazil, thus strengthening our range with thousands of new products. Our market will be strengthened by audio brands, speakers, toys, razors, small household appliances, for example,” said Eduardo Galanternik, Vice President of Magalu Business. “In addition, we see many opportunities for our other brands in the group, such as Netshoes, in sports goods, Época Cosméticos, in cosmetics, and KaBuM!, in the gaming sector.”

The Brazilian retailer joins other companies classified as transboundary, such as Amazon, Mercado Livre, Sinerlog, Aliexpress Shein and Shopee. In addition to the tax benefit, companies that follow Remessa Conformo have faster customs clearance.

What is Conformal Shipping?

Founded by the Ministry of Finance on August 1, Remessa Compliance exempts from federal taxes (import tax) purchases of up to US$50 (equivalent to just over 244 reais at the current exchange rate) made on foreign company websites.

The opposite of the federal tax exemption is the collection of state taxes: ICMS at a rate of 17%, which was determined by Comsefaz (National Committee of Financial Secretaries).

It should be noted that the 60% import tax rate remains in effect on purchases over US$50 entering the country.

Revenue is responsible for, among other things, preparing bi-monthly program evaluation reports, monitoring campaign adherence and reporting results.

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