COVID-19: Camex abolishes tax on mask resin
Used in the manufacture of face masks, polypropylene resin will be imported tax-free, the Brazilian Economy Ministry’s Foreign Commerce Chamber decided. The tax break will encompass approximately 77 thousand tons of the products and will be effective for three months.
The decision includes the resin on Mercosur’s list of exceptions to the common external tariff. The measure was necessary, Camex reported, because the resin, which also has a number of industrial applications, is facing a shortage in the international market due to the increase in the demand for masks.
The measure will be in effect seven days after a resolution on the topic is published in the country’s Official Gazette, which should happen today (Mar. 31). According to the Economy Ministry, the government will continue to observe the market to ascertain whether further measures will be required to guarantee the supply of resin.
The decision was unveiled during an extraordinary meeting held Monday (29) by the Executive Management Committee (Gecex), but the move was not made public until yesterday.
On Monday, Camex also eliminated the import taxes of 65 drugs and pieces of medical equipment used in the treatment of patients during the COVID-19 pandemic.
