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markets: commercial, industrial and agribusiness (DL 288/67, art. 1). The legal lifetime determined forthe ZFM is until 31 December 2023 (EC 42/03 and article 94 of Decree 7,212/2010).The industries established in ZFM enjoy the following fiscal benefits (with the exclusion of firearms andammunition, tobacco, alcoholic beverages, passenger cars, perfumery products and toiletries and,with some exceptions, cosmetic compounds and preparations), in accordance with art. 3, paragraph 1of DL 288/67, with the alterations of Law 8,387/91, with a view to the substitution of imported goods fornationally manufactured goods:a) Import Duty: exemption (art. 3 of DL 288/67), whereas the goods brought into ZFM may, even ifused, be subsequently exported overseas, with the maintenance of the exemption of the dutiesassessed on the importation (art. 127 of Law 11,196/05). For some sectors the exemption is partial, of88% of the import duty.b) Export Duty: exemption (art. 5 of DL 288/67);c) Excise Tax (IPI): exemption for imported products consumed in ZFM and for products that thoughindustrialized in ZFM are to be sold in another point of the Brazilian territory, except for products thatare industrialized through packing or repacking, in which case they will be subject to IPI and also tothe import duty related to raw materials (RIPI – Excise Tax Regulation, art. 81, II), intermediaryproducts and the imported packaging materials employed therein (art. 7 of DL 288/67 with thealterations of Law 8,387/91).d) State Vat (ICMS): exemption, barring a few exceptions, on the issue operations of industrializedproducts of domestic origin for sale or industrialization in the Municipalities of Manaus, Rio Preto daEva and Presidente Figueiredo in ZFM, provided that the goods are consumed locally and satisfyother legal requirements (RICMS – State VAT Regulation, art. 84 of Annex I);e) Non-rebatable Corporate Income Tax (IRPJ) and surtaxes levied on the profit of the exploitation ofthe undertaking: for the projects approved as of 1 January 1998 a reduction is granted, observing thefollowing percentages: 75% from 1 January 1998 to 31 December 2003, 50% from 1 January 2004 to31 December 2008 and 25% from 1 January 2009 to 31 December 2013, providing that the provisionsof the labor and social security legislation and the environmental protection and control legislation isobserved by the beneficiary company (RIR – Income Tax Regulation, art. 554, paragraph 4). Thesebenefits do not apply in relation to tax periods ending as of 1 January 2014 (RIR, art. 554, paragraph5). This fiscal benefit may be used for up to ten (10) years from the tax period in which the undertakingenters into the operating phase (art. 557 of the RIR); and81