On January 2ns, the Brazilian IRS published Normative Ruling 1,781/2017, consolidating the rules for the utilization of the REPETRO-Sped special customs regime, following the changes made by means of Provisional Measure 795/2017.

The new Normative Ruling details the procedures companies should follow in relation to the special customs regime for goods / equipment used in exploration, development, and production of oil and gas. Some of the changes include the simplification of customs procedures and the possibility of companies to present personal guarantees. Some changes may lower the compliance costs associated with the regime.

Our team is available to discuss the new rules.

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CONTACTS:

Daniel Maia
Partner | Global Trade
[email protected]