Economy
IPI 2022 reduction: see which products you can save up to 25% on
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Decree that reduces the tax on industrialized products was published. See below which products will be affected.
High taxes are the cause of complaint by most Brazilians.
And it's no wonder, since our tax burden is one of the highest in the world.
When buying a product and checking the invoice, the consumer can see how taxes directly affect the high prices of some products.
Therefore, any tax reduction measure is celebrated by the population.
As had already been announced by Minister Paulo Guedes on the 22nd, the IPI reduction was published in the Official Gazette on the 25th.
The government announced that this measure aims to give more stimulus to the economy, also generating a tax waiver on the part of the Planalto, which will no longer collect around R$ 19 billion in 2022 alone.
What is the IPI
IPI (Tax on Industrialized Products) is the tax levied on any national or imported item that has undergone some industrialization process.
It is a federal tax, that is, it can only be collected by the federal government, the Union.
Economically, it is known as an extrafiscal tax, which is a tax developed to encourage or discourage economic behavior by the population.
This means that the rate of this tax can be changed to generate economic and social impacts in the country as of the presidential decree.
This type of change has already occurred in order to reduce the rate (cars) or increase it (cigarettes).
What products is the IPI levied on?
IPI is levied on practically all industrialized products, with some exceptions.
In the case of domestic products, the incidence is made when the product leaves the factory. In the case of imported products, this incidence is made at customs.
The following categories of industrialization are considered:
- Packing or Repackaging: change the presentation of goods when placing a package, even if it is to replace the original one (eg packaging milk);
- improvement: modifies, improves or, in any way, alters the functioning, use, finish or appearance of a product (eg rice processing);
- Assembly: brings together different products, parts or parts to assemble a new product (eg car assembler);
- Renovation or Reconditioning: renews or restores a used product (eg tire restoration);
- Transformation: transforms a raw material into another completely different product (eg sugar cane into alcohol).
Who is exempt from IPI? There are some exceptions for IPI taxation, as mentioned above. The main ones are:
- energy sector: electric power, petroleum derivatives, fuels and minerals in the country;
- export sector: industrialized products intended for export are exempt from IPI in order to generate competitiveness in the international market;
- Information and knowledge sector: books, electronic books, newspapers, periodicals and the paper intended for their printing;
- Gold: Gold is also exempt from IPI when defined by law as a financial asset or foreign exchange instrument.
Which products will suffer IPI reduction in 2022?
The rules established by the IPI reduction decree are already valid from February 25th.
The decree provides for two percentage reductions:
- 18,5%: for some vehicle types;
- 25%: for national and imported industrialized products, with the exception of products harmful to health, such as cigarettes with tobacco.
It is worth remembering that these reductions will only reach the final consumer as new stocks arrive at stores and dealerships.
If you are thinking of buying an industrialized product, it is worth considering waiting a little longer to buy it at a reduced price.
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