The Brazilian government published, on Monday (20), in the Official Gazette (DOU), Resolutions No. 69 and No. 70 camex (Foreign Chamber of Commerce) that increased import taxes on solar energy equipment by the end of 2021.
Solar modules, three-phase inverters for photovoltaic systems and components used in trackers, as well as pumps for liquids used in solar-powered irrigation systems were included. The inclusion of items in the list of products exempt from tariffs in the condition of ex-tariffs, will take effect from August 1.
Rodrigo Sauaia, president of the Brazilian Association of Photovoltaic Solar Energy (Absolar), told Reuters that import taxes for solar modules are usually 12%, while inverters pay tariffs of 14%. However, the president also said that the entity still assesses the impact of the measures on the market.
According to Reuters, the initiative should help boost business in the sector, but equipment manufacturing companies in the country may be under pressure on their competitiveness in the face of imports.