Government Eliminates Tax on 23 Items to Prevent Shortages and Offset Low Domestic Production

The Executive Management Committee of the Foreign Trade Chamber has decided to reduce the import tax on 23 items to zero due to the lack of domestic production and the risk of shortages. The measure, valid for 365 days, includes products such as paints, food preparations, glass ampoules, contact lenses, and medical-hospital supplies.

Previous tax rates on these items ranged from 8% to 16%. Additionally, tariffs on menthol-based medications and palm oil were reduced. The automotive sector also benefited from tax exemptions on auto parts for projects under the Mover program.

According to Logcomex data, imports increased by 21% between January and August 2024, with notable growth in medical instruments, which saw a 28% rise in FOB value, and polyester paints, which grew by 30% in FOB value.

On the other hand, syringe imports, despite an increase in volume, experienced a 14% drop in FOB value.

Investment in Porto de Vitória Will Enable Integration with Railway Transport

After two years under private concession, the Espírito Santo port complex, which includes the ports of Vitória, Vila Velha, and Barra do Riacho, has launched a package of improvements featuring eight interventions. The total investment of R$ 180 million aims to boost the competitiveness of Espírito Santo's ports and drive new business opportunities, particularly in the agricultural bulk sector.

One of the main upgrades at Porto de Vitória was the restoration and revitalization of its internal railway infrastructure. This improvement will enable increased cargo movement via rail, optimizing logistics between different transport modes.

The construction projects also aim to strengthen the port's infrastructure, making it more efficient in meeting the growing demand for international trade. The focus is on better integrating transportation flows and expanding cargo handling capacity.

According to Logcomex data, in the first half of this year, Porto de Vitória handled $12.1 billion in exports and $7.6 billion in imports, underscoring its importance in the country's logistics and economic landscape.