Brazilian Customs Requires Household Goods Bond GuaranteeJuly 15, 2013
Brazil implemented a new rule (Instrucão Normativa 1361/2013) issued by the Federal Revenue of Brazil applicable to household goods (HHGs) imported to and exported from Brazil for shippers moving under a work visa. The new rule requires shippers to obtain a Bond Guarantee based on the valued inventory of their household goods, including import duties (IPI, PIS, and COFINS).
When the suspended taxes for HHGs exceeds the amount of R$100,000.00 (approximately US$45,000), the Federal Revenue of Brazil is requiring a security guarantee in the amount equivalent to the suspended taxes.
The guarantee may be provided through one of the three ways:
1. Corporate Guarantee. There are two ways to obtain a Corporate Guarantee:
- Through a Bank – The Corporate Account requests a Bond Guarantee through its bank in the amount of the suspended taxes. The bank will provide a letter confirming the guarantee and sign the Customs Bond Guarantee (Termo de Responsabilidade) to be presented to Customs along with the below documents.
- Through the Corporate Account/Employer – The Corporate Account/Employer will sign a Bond Guarantee (Termo de Responsabilidade) stating that they will be responsible for all suspended taxes in case the shipper leaves the country and does not re-export all of his household goods prior to the expiration of the shipper’s work visa. This document must be signed by the legal representative of the company and be submitted along with the below documents.
List of Documents necessary for a Corporate Guarantee: The guarantor company (either the Bank or the Corporate Account/Employer) will be required to submit the following documents:
- Two (2) original Bond Guarantees (Termo de Responsabilidade) signed by the legal representative. Bond of Guarantee must be printed double-sided and signatures must be notarized.
- Notarized copies of personal IDs (RG/CPF) from the legal representative(s).
- Notarized copies of the updated Legal Operating Agreement/Company Foundation and Meetings (Ultima Ata do Contrato Social) or notarized copy of Power of Attorney stating that the person has legal power to represent the company and issue a Bond Guarantee.
- Notarized copy of actual Finance Balance.
- Certificate of Good Standing (CND – Certidao Negativa de Debitos) issued by Receita Federal Brasileira stating there are no pending taxes/duties.
- After registration of the DSI (Declaração Simplificada de importação), Arpin’s local representative will forward the completed Bond Guarantee to be signed and notarized.
2. Cash Deposit. A deposit will be made at the “Caixa Econômica Federal” (Brazilian National Bank) through a Federal Invoice (Guia de Arrecadação).
This Invoice will be issued by the bank in the amount of the suspended taxes. Once it is paid, the receipt is presented to Brazilian Customs along with the Temporary Admission.
This value will be refunded once the shipper re-exports all of his household goods out of Brazil. The export process must be performed before the shipper’s work visa and Temporary Admission expires.
3. Customs Insurance. The shipper makes a request to an Insurance Broker to issue a Customs Insurance Policy in the amount of the suspended taxes which will expire on the same date as the Temporary Admission. The beneficiary of this policy must be Brazilian Customs and will be enforced if the shipper does not re-export his goods before the expiration of the work visa and Temporary Admission. Once this policy is issued, it will be presented to Brazilian Customs along with the Temporary Admission.
The export process must be performed before the shipper’s work visa expires. It is the shipper’s responsibility to communicate and request the cancellation of the policy from his Insurance Broker. All charges related to the policy are the shipper’s responsibility and he will need to pay any premium/fees directly to his Insurance Broker. In case the work visa and Temporary Admission are extended, the policy will have to be extended. Any additional fee(s) involved are the shipper’s responsibility.
Should you require more detailed information, please contact the Arpin International Group Relocation Coordinator handling your shipment.