Does your company face challenges with FCI (Import Content Form)?

The FCI (Import Content Form) was instituted in 2012, and, according to Resolution No. 13 of the Brazilian Senate, the ICMS tax rate on interstate transactions with imported products was reduced to 4%.

The FCI rate is applied to imported goods and merchandise, which are not subjected to an industrialization or transformation process or those items that even though are submitted to a production process, result in goods or merchandise with Imported Content above 40%.

According to the Resolution, interstate rates of 7% or 12%, depending on the case, are maintained for goods and merchandise imported from abroad that do not have a similar national product; goods produced in accordance with basic production processes; PADIS/PATVD and respective updates; and for operations that send imported natural gas to other states.

The FCI (Import Content Form) is challenging for companies, which must: