1 Sept 2017
Brazil Updates Regulations on ATA Carnets
The Brazilian Federal Revenue Service (Receita Federal) has updated its regulations pertaining to the issuance and acceptance of ATA carnets in Brazil. Among other things, the scope of products that can take advantage of this special regime has been expanded to cover all products included in the annexes to the Istanbul Convention that enter the country as regular cargo or accompanied baggage.
Also known as “merchandise passports,” ATA carnets are international customs documents that ease temporary imports of commercial samples, professional equipment, and goods for exhibitions and fairs by simplifying customs procedures, eliminating duties and value-added taxes, and replacing the purchase of temporary import bonds. They operate under international customs conventions administered by the World Customs Organisation and serve as a guarantee against the payment of customs duties that may become due on goods temporarily imported and not re-exported. The carnet guarantee is based on an arrangement whereby a national association is held jointly and severally liable with the carnet holder for compliance with customs procedures for which the carnet was issued.