17% of ICMS will be added to federal taxes; Billing starts in one month and should affect companies like Shein and Shopee
This Thursday (June 22, 2023) the state governments signed an agreement You will charge 17% of electronic purchases of companies located abroad, such as Shein, Shopee, and others. Read the full (74 KB) of text.
Covenant makeup (National Treasury Policy Council) after agreeing to get it done ICMS, state tax will be allowed to happen. But the fee will be charged by the Federal Revenue Service, together with the import tax, which may constitute 60% of the RTS (Simplified Tax System).
Projections are that it will take at least another month for the IRS to implement the charges. It may take Taxation begins at the end of July 2023.
Companies join the program spontaneously.
Whoever complies will put their products into a green channel for imported products, without bureaucratic customs checks that may require holding the product for several days.
The agreement was signed at the meeting of KomsVAZ (National Committee of Ministers of Finance, Finance, Revenue or Taxes of the States and the Federal District) on Thursday.
The topic was discussed on Tuesday (June 20), but the Sao Paulo government asked for a point of view (it’s time to analyze the topic better). At the meeting on Thursday, an agreement was reached.
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