Tax Classification of Goods – NCM | Brazil

Tax Classification of Goods – (NCM/SH)

The Tax Classification of Goods in Brazil is made with according to the NCM (Mercosur Common Nomenclature, based on the Harmonized System of the Description and Coding of Goods).

The improper description of the goods and the incorrect coding may result in serious risks in the assessment, increase in the tax burden and in losses of lawful gains for the companies, actually because those activities impact on several different charges: tax over Industrialized Products (IPI), property tax (II), Social Integration Program (PIS), sales and services tax (ICMS), reduction in ICMS calculation basis, differential treatments in PIS and COFINS (Contribution for Social Security Financing).

Therefore, it is of utmost importance to correct and constantly update the procedures relating to the tax classification of goods.

How Classist may assist your company in the Tax Classification of Goods and Services?

Provides support to:

- Proper description of the pertinent rules;
- Firm of definition of the tax classification;
- Review of the classifications practiced;
- Tax management including IPI, II, PIS, COFINS and customs operations;
- ICMS management, including all the federation units;
- Tax planning focused on the tax classification;
- Monitoring for permanent update.

As Classist’s user, your company has the support of a multidisciplinary expertise team with lawyers, engineers, tax consultants, and foreign trade and TI professionals.