The proposal is similar to procedures that have been applied in other countries, such as the European Union members, Canada and Argentina

The Commission for Economic Development, Industry and Commerce approved on Wednesday, November 5, the Complementary Bill 335/06, by Deputy Max Rosenmann (PMDB-PR), who recently passed away. The law allows foreign tourists to claim for Cofins (turnover tax on gross profits) refund. The tax applies on the purchase of wares in Brazil.

Moreover, the Complementary Law allows the States and the Federal District to close agreements to also permit the refund of the ICMS (a state value-added tax on services and circulation of goods) paid by foreign tourists.

The rapporteur's (Deputy Armando Monteiro (PTB-PE) opinion, which was favorable to the Project, was approved. The approved opinion requires, for its remanding, that the purchase be made in Brazilian currency (Real).

According to the rapporteur, the proposal is important for the development of tourism, and its implementation is perfectly feasible, since it is similar to procedures that have been applied in other countries, such as the European Union members, Canada and Argentina.

Procedure
The proposal will be reviewed by the Committees for Finance and Taxation, and for Constitution and Justice and Citizenship. It will then be voted by the Plenary.

Report - Luiz Claudio Pinheiro
Editing - Newton Araújo Jr.