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Brazil's Department of Federal Revenue Approves Land Border Duty Free Shops
03/21/2018 - 10H55
JOANA CUNHA
FROM SÃO PAULO
Brazil's Department of Federal Revenue approved on Monday (the 19th) regulations that will allow for land border duty free shops, a decision that has already attracted the interest of several multinational companies.
This means that stores subjected to a special taxation regime - similar to the ones that exist in airports and ports - will be able to operate along Brazil's borders, selling tax-free items to international travelers.
The president overseeing Duty Free Americas' Brazil operation, Carlos Rabat, has said that he and his team are looking into the market potential of the areas contemplated by such regulations.
The stores are to be built in twin cities with a foreign counterpart, in other words, in municipalities bordering towns that are situated in a neighboring country. There are approximately 30 such cities in Brazil, a third of which are in the state of Rio Grande do Sul.
More:
http://www1.folha.uol.com.br/internacional/en/business/2018/03/1961544-brazils-department-of-federal-revenue-approves-land-border-duty-free-shops.shtml?utm_source=newsletter&utm_medium=email&utm_campaign=newsEN
