The tax classification of products is the identification of the products according to the Mercosur Common Nomenclature code (NCM), mandatory in the import and export records.
The NCM is a product categorization convention adopted since 1995 by Uruguay, Paraguay, Brazil and Argentina and based on the Harmonized System (HS). This nomenclature system was created in order to improve and facilitate the growth of international trade, also facilitating the creation and comparison of statistics.
In the scope of foreign trade, the tax classification is one of the most sensitive points and which require more attention of logistic operators, as any mistake can generate serious penalties to the taxpayer, as well as erroneous collection of tax credit.
Our service comprises the analysis of the product, based on the essential and main characteristics, as indicated by the Common External Tariff (CET) and the general rules of the Harmonized System.
Our team counts on dedicated specialists to carry out the service of translation and tax classification, classification of tax benefits, verification of the need of licenses and registrations with government bodies, as well as technical support through diligences based on the Client or Fiscal Units.
Contact us to find out more.