Import taxes of 50% on an item, in what currency is that?
Asked by
robdamel (
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)
April 12th, 2011
I want to import some things to Brazil, and they give the taxes in percentage, but don’t state in what currency.
For example, to import clothes to Brazil, its going to be somewhere around 48% of the price. Now, will that be in American Dollar, or Brazilian Real?
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5 Answers
It doesn’t really matter does it? It is still 48%, but I would assume it would be the Real.
The Brazilian company should mail a exportation voucher stating the price of the items you bought, more than likely in Reales, and customs is going to charge you 48% of this. Now obviously you will have to pay this in dollars after converting the Reales to dollars.
Taxes are always in the local currency. Are you importing for personal use or for sale? Typically personal items in a single, declared shipment will be free of tariffs. At least, that’s the case in a lot of countries. I certainly don’t know about Brazil though.
Do you mean Export To ?
If the fees are payable on the Brazillian side, they will be in Real. Are you using an agent? If agents are dealing with it, they will change the currency value to USD and add a fee.
But the 48% will be based on the value of the product you are selling it for is usually payable by the importer. Any customs fees and import duties, and freight is payable by the purchaser in the country of destination.
Are you in the US and exporting to a business in Brazil? Do you own the business in Brazil that is importing the goods?
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