Within the world of foreign trade, imports are one of the main activities carried out. This process involves a series of tasks and obligations that ensure everything runs smoothly from start to finish. Read on and find out more about how the import process works.
What is it and how does it work?
The import process consists of the temporary or permanent entry of products, goods or services from other countries into national territory. A product can only be considered imported once it has been brought into the country. This process, which involves customs clearance and the payment of taxes provided for by law, can be divided into: the administrative phase, the tax phase and the exchange rate phase.
Administrative phase
At this stage, imports are licensed. The processes follow the government’s requirements and their execution depends on the type of merchandise and operation to be carried out.
Tax phase
The tax phase takes place as soon as the goods arrive in the destination country. But first, the process goes through customs processing, which verifies all the data on the importer and the products. After this stage, the goods are considered imported.
Foreign exchange phase
The foreign exchange phase refers to the purchase of foreign currency to pay for imports. In Brazil, this process is carried out by a financial entity authorized by the Central Bank. The exchange of currency can take place at different points in the process, depending on the payment method agreed upon
Types of import
When we talk about imports in Brazil, there are three types that are widely used: for the account and order of third parties, by order and on own account.
On behalf of third parties
In this category, a third-party company is responsible for the import process, from the moment the products are purchased until they are delivered in their imported condition. The intermediary (third-party) company is called a Trading.
To order
The importing company carries out the entire process using its own resources, on the condition that it resells the goods on the domestic market. All bureaucratic procedures are the responsibility of the importing company.
On your own
It is also known as direct importation and, as the name implies, the importer carries out the entire purchase, acquisition and customs clearance process with their own resources. This type of import can be carried out by any company, as long as it has the knowledge and is duly authorized by the Federal Revenue Service.
Invoices and taxes
The invoice is compulsory and proves that the product has been nationalized. In addition to location data, CPF or CNPJ, date of issue and date of exit, it also includes all taxes paid. These taxes can be
● State-wide – the main one is ICMS. Each state has its own tax calculation rules;
● Nationwide – the main ones are PIS, Cofins and Industrialized Product Tax (IPI). There is a calculation basis for each one, so you need to pay attention.
Are you ready to import?
The entire import process, from the purchase to the final delivery of the goods, must be carried out in compliance with all the relevant responsibilities and obligations, in order to avoid legal and financial losses.
That’s why you can count on Superia. Our team has vast experience in all import procedures and everything is carried out with total transparency and excellence. Talk to us! Get in touch for a quote.
