How to Export to Brazil - Sprint Lazio

Brazil – Ministry of External Relations
III.8.2. Financing of imports
A financed import is understood as the acquisition of goods and services for payment
in instalments, classified as a trade operation associated to a financial operation,
which can be in the Supplier’s Credit modality (when the financer is the supplier itself)
and Buyer’s Credit modality (when financing is made by a third party for cash payment
to the exporter).
The Brazilian importer has at their disposal a range of official and private financing
options. The Brazilian Development Bank (BNDES) for example, grants financing to
importers, mainly for products and supplies that are part of a finished product to be
exported, an operation known as drawback.
The private bank network makes available to buyers a variety of lines of credit, ranging
from the issuance of letters of credit to short, medium and long term financing.
Regarding the costs of financing imports, they are negotiated in line with international
interest rates (Libor + spread), over which are imposed income tax. If the financer is
a private bank, other charges may apply in addition to currency correction over the
principal.
III.9. Special customs regimes
Special customs regimes constitute an exception to the general rules established in
the ordinary customs regime that applies to imports/exports and are created with a
view to encouraging the economic development and growth of the country. They
offer to their beneficiaries the possibility of promoting the entry of goods into the
customs territory (or their exit from the country) without payment of the burdens
imposed on foreign trade. The goods subject to these regimes enter the country
without the immediate requirement of paying the taxes levied on imports and the
application of the regime is usually associated with strict customs control and with
meeting certain conditions.
Brazil adopts several special customs regimes. The main ones are listed below with
their key characteristics.
III.9.1. Drawback
The Drawback regime is applicable through the suspension, exemption or restitution
of taxes imposed on imports destined for the industrialization of an exported product
or one to be exported. It is regulated by SECEX Ordinance nº 35, dated 24 November
2006. Brazilian law makes provision for three types of Drawback application:
Suspension, Exemption and Restitution.
72 How to export to Brazil