Circular No. 2.767

CIRCULAR N. 002767 ------------------ Promotes changes to the Export Exchange Regulation established by Circular No. 2.231, of 25.09.92. The Board of Directors of the Central Bank of Brazil, based on art. 5 of Resolution No. 1.964, of 25.09.92, and on art. 4 of Resolution No. 2.136, of 28.12.94, D E C I D E D: Art. 1 To reduce to 0% (zero percent) the rate of the export tax on sales abroad of the following products: - raw cane sugars, without addition of flavoring or coloring; - refined sugar, even in tablets; - rich invert honey; - any other invert sugar; - cane molasses, resulting from the extraction or refining of sugar, unfit for human consumption; - other molasses, resulting from the extraction or refining of sugar, unfit for human consumption; - undenatured ethyl alcohol, with an alcoholic strength by volume equal to or greater than 80% vol; - denatured ethyl alcohol, with any alcoholic strength, for fuel purposes with the specifications determined by the National Department of Fuels of the Ministry of Mines and Energy, substitute for the National Petroleum Council; - any other denatured ethyl alcohol, with any alcoholic strength. Art. 2 The sheet necessary for updating the Export Exchange Regulation (Chapter 5 of the Consolidation of Exchange Rules - CNC) is attached. Art. 3 This Circular enters into force on the date of its publication. Brasília, 11 July 1997 Gustavo H. B. Franco Director NOTE: The amended parts of the Consolidation of Exchange Rules are published below. CONSOLIDATION OF EXCHANGE RULES CHAPTER: Export - 5 TITLE: Export Tax - 17 ------------------------------------------------------------------ 1. The rate of the export tax referred to in Decree-law No. 1.578, of 11.10.77, is 0% (zero percent), except for the export of the following products: NBM/SH RATE PRODUCT 4101 9.00% raw hides of bovine or equine animals; 4102 9.00% raw hides of sheep; 4103 9.00% other raw hides; 2. The percentage of the tax for products recorded with rates different from 0% (zero percent) shall be indicated automatically in field 28 of the Export Registration in SISCOMEX. 3. The basis for calculating the tax is the value of the merchandise contained in field 17-b (total price at the place of shipment) of the Export Registration effected in SISCOMEX. 4. To determine the value in Reais of the tax calculation basis, the exchange rate for the currency indicated in the Export Registration, available in the Central Bank Information System (SISBACEN), PTAX800 transaction, option 5, for the business day immediately preceding the date of occurrence of the taxable event, shall be used. 5. Failure to fulfill the tax obligation within the period and in the manner established by the Minister of Finance shall prevent the exporter from making Export Registrations in SISCOMEX.