Brazil signs agreement to facilitate economic relations with U.S.
Brazil and the United States signed Friday (16) an agreement on economic activities to help companies directly involved in foreign trade.
The companies are entitled to greater flexibility and predictability in the movement of their cargo in international trade flows through the Federal Tax Service.
To qualify for these benefits, companies must demonstrate that they meet the requirements and criteria for certification as reliable and low-risk companies. Here is the full text.
The Brazilian Customs Service signed the agreement, represented by the Brazilian Federal Tax Service, and the United States Customs Service, defined by Customs and Border Protection.
Mutual Recognition Agreements (MRAs) are bilateral or multilateral agreements between countries’ customs administrations with compatible programs.
They allow authorized companies to benefit from the advantages and benefits that the Federal Tax Service pacts with foreign customs administrations, reducing costs and increasing competitiveness.
Since its launch in 2015, the program has grown significantly.
About 500 companies are certified, representing over 27% of Brazil’s import and export declarations.
In the last three years, an average of 17% of Brazilian exports to the U.S. were made by companies certified under the program.
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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